Alibaba shows up by owning what happens after discovery: the platform, community, commerce, or repeat habit people keep returning to.

For the fiscal year ended March 2024, revenue rose 8% to RMB941.17 billion (US$130.3 billion).

The core China commerce arm generated RMB93.22 billion (US$12.9 billion) in the March 2024 quarter, its largest segment.

Cloud Intelligence Group brought in RMB25.6 billion (US$3.5 billion) in the March 2024 quarter, with AI product revenue up triple digits.

Taobao

Tmall

E-commerce with owned logistics (Rocket Delivery), plus Coupang Play streaming, Eats, and fintech.

On-demand services (Gojek), e-commerce (Tokopedia), and financial technology (GoPay/GoTo Financial).

Up 26% YoY across Gojek, Tokopedia & GoPay

Beauty and fashion e-commerce marketplace plus owned house brands and offline stores.

Up 24% YoY; India's largest beauty e-commerce platform

Digital entertainment (Garena games), e-commerce (Shopee), and fintech (SeaMoney).

Record high, up 28.4% YoY; SE Asia's largest platform

Up 6.7% YoY — Garena's best quarter since 2021

E-commerce connects to Alibaba and the broader platforms story around it.