Jack Ma sets out Alibaba's mission for the next 20 years. (Photo : Getty Images)
Jack Ma, Alibaba's chief executive, released a letter to shareholders revealing the company's mission vision and the plans for the next 30 years.
The company plans to reach a profit of $261 billion and plans to have turnover revenue of $196 billion.
Ma reported, "We have more than 430 million annual active buyers, which means one out of every three individuals in China has made a purchase on our retail marketplaces."
"While proud of Alibaba's online shopping achievements, we want to do far more," he said. "The benefits of globalization had not been spread evenly, but digital disruption will bring us closer to a level playing field for young people and small businesses."
The company's founder stressed that the company should be able to help the global economy by providing more jobs.
The letter also stated, "We are not merely trying to shift buy/sell transactions from offline to online, nor are we changing conventional digital marketing models to squeeze out a little additional profit. We are working to create the fundamental digital and physical infrastructure for the future of commerce, which includes marketplaces, payments, logistics, cloud computing, big data and a host of other fields."
Ma said that the shift of retail to e-commerce will generate more consumers and enable them to spend more.
"In the coming years, we anticipate the birth of a re-imagined retail industry driven by the integration of online, offline, logistics and data across a single value chain," he said.
He added, "With e-commerce itself rapidly becoming a 'traditional business,' pure e-commerce players will soon face tremendous challenges."
The chief executive said that he hopes to serve 2 billion customers in 20 years.
"In 20 years, we hope to serve two billion consumers around the world, empower 10 million profitable businesses and create 100 million jobs. This will be an even more difficult journey than the one behind us," he said.
