China’s Alibaba Group posted its strongest quarter to-date with revenue soaring 45% YOY, driven by gross merchandise volume (GMV), annual active buyers, and mobile. The Company also named Daniel Zhang, currently COO to become CEO, effective May 10th.
Daniel Zhang has been with the company for eight years and has held top management positions across the organization. He is also one of the founding members of the Alibaba Partnership. Daniel has been Alibaba’s chief operating officer since September 2013. In his role as COO, Daniel oversaw the operations of all Alibaba Group businesses in China and internationally.
GMV transacted on Alibaba’s China retail marketplaces in the first quarter was RMB600 billion (US$97 billion), an increase of 40% compared to the same quarter of 2014. GMV transacted on Taobao Marketplace in Q1/15 was RMB381 billion (US$61 billion), an increase of 29% compared to the same quarter of 2014.
Alibaba’s China retail marketplaces had 350 million annual active buyers in Q1/15, compared to 334 million in the twelve months ended December 31, 2014, representing a net addition of 16 million in annual active buyers, and compared to 255 million in the twelve months ended March 31, 2014, representing an increase of 37% compared to the same period in 2014.
Revenue increased by 45% to RMB17,425 million (US$2,811 million) in Q/15, compared to RMB12,031 million in the same quarter of 2014.
Mobile GMV for the first quarter was RMB304 billion (US$49 billion), an increase of 157% compared to the same quarter of 2014. Mobile GMV accounted for 51% of total GMV transacted on it China retail marketplaces in this quarter, compared to 42% in the quarter ended December 31, 2014 and 27% in the quarter ended March 31, 2014.
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