Alibaba, China's ecommerce giant, may not be very well known outside of its home market, but it probably doesn't need to. Already, it's seeing transactions as valuable as eBay or Amazon, a feat in itself, without considering that the vast majority of those are in China.
The company has been making some inroads into expanding internationally, the US in particular, but there's a long way to go.
The company expects that the total value of transactions processed through its sites, Taobao in particular, to be bigger than the same numbers seen by Amazon or eBay. It's on its way to reaching 1 trillion yuan in transactions this year, that's $157.8 billion or €112.3 billion.
Alibaba hopes to reach three times that within five to seven years. The company also talked about its other ventures, particularly Aliyun OS, its Android competitor. It's virtually unheard of internationally, but is gaining some steam in China.
Alibaba hopes to have five manufacturers using its OS by the end of the year and wants to eventually overtake Android locally.