Jeffrey Dong ’19 pitched Alibaba Group Holding Ltd. (NYSE: BABA) to the Student Managed Investment Fund (SMIF) on November 6, 2018. Founded in 1999, Alibaba is a Chinese multinational holding company that specializes in core commerce, digital media & entertainment, financial services, cloud computing, and innovation initiatives. Alibaba focuses on providing transformative and efficient avenues for smaller businesses and individuals to connect and engage with their users. By leveraging technology and innovation, Alibaba strives to create the future infrastructure of commerce. With its established platforms like Tmall and Taobao and strategic acquisitions in growth sectors like cloud computing, it will continue to grow its active consumer base domestically and globally, especially in Southeast Asia, Europe, and Africa. Alibaba has key stakes in a wide variety of subsidiaries and ventures around the world like Magic Leap and Paytm Mall, and their immense global presence in local communities allows them to deliver the services needed to help businesses grow and compete on a global scale. The class voted to buy 70 shares of Alibaba at $149.75, making BABA more than 1% of Tuesday SMIF’s portfolio.
