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MarketScreener Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding Limited    BABA

ALIBABA GROUP HOLDING LIMITED

(BABA)
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Salesforce expands footprint into China with Alibaba partnership

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07/25/2019 | 05:06am EDT
The company logo for Salesforce.com is displayed on the Salesforce Tower in New York

(Reuters) - Salesforce.com Inc said on Wednesday it will partner with Chinese e-commerce company Alibaba Group Holding, as the U.S. cloud-based service provider looks to make inroads into the Chinese software market with its products.

"Alibaba will become the exclusive provider of Salesforce to customers in mainland China, Hong Kong, Macau and Taiwan, and Salesforce will become the exclusive enterprise CRM product suite sold by Alibaba," the company said in a blog..

The Customer Relationship Management (CRM) platform that San Francisco-based Salesforce intends to sell in the regions include Sales Cloud, Service Cloud, Commerce Cloud and Salesforce Platform, the company said.

Partnering with Alibaba, which has a large cloud service business itself, offers Salesforce access to China’s vast online population via its marketing channels but also potentially brings Salesforce closer to full compliance with China’s laws regarding data security.

China’s Cybersecurity Law, which was approved in 2017 and has been implemented and fleshed-out in more detail gradually since then, calls for all companies conducting business activities in China to store their data inside Chinese borders.

The policy has prompted some overseas internet and software companies, such as Apple and Amazon, to make arrangements for data generated from its Chinese customers to be stored locally.

"The supporting implementation standards and guidelines of this law are fast moving and they created a great deal of uncertainty for organisations operating in China - particularly multinational companies - in terms of how to get compliant and at the same time support one of their most important overseas markets,” said Olive Huang, who tracks the CRM sector at research firm Gartner, in a company blog post.

"Salesforce’s partnership with Alibaba is another example of international cloud vendors finding solutions to offer privacy-compliant software services to serve their customers in China,” she added.

(Reporting by Sathvik N in Bengaluru and Josh Horwitz in Shanghai; Additional Reporting by Cate Cadell in Beijing; Editing by Leslie Adler and Muralikumar Anantharaman)

Stocks treated in this article : Apple, Salesforce.com, Amazon.com, Alibaba Group Holding
Stocks mentioned in the article
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ACCESS CO., LTD. -0.96% 928 End-of-day quote.-2.83%
ALIBABA GROUP HOLDING LIMITED 0.00% 273.75 Delayed Quote.29.10%
AMAZON.COM, INC. 4.77% 3105.1383 Delayed Quote.60.21%
APPLE INC. 0.98% 110.97 Delayed Quote.49.95%
GARTNER INC -0.17% 126.13 Delayed Quote.-17.97%
JUST GROUP PLC -2.06% 43.68 Delayed Quote.-43.54%
SALESFORCE.COM, INC. 1.07% 247.4 Delayed Quote.49.27%
WILL GROUP, INC. 2.75% 935 End-of-day quote.-25.32%
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Financials
Sales 2021 674 B 99 507 M 99 507 M
Net income 2021 149 B 21 946 M 21 946 M
Net cash 2021 424 B 62 602 M 62 602 M
P/E ratio 2021 35,3x
Yield 2021 -
Capitalization 5 041 B 741 B 744 B
EV / Sales 2021 6,85x
EV / Sales 2022 5,28x
Nbr of Employees 120 535
Free-Float 99,7%
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Technical analysis trends ALIBABA GROUP HOLDING LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 50
Average target price 2 108,67 CNY
Last Close Price 1 863,15 CNY
Spread / Highest target 46,7%
Spread / Average Target 13,2%
Spread / Lowest Target -4,01%
EPS Revisions
Managers
NameTitle
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO & Head-Strategic Investments
Li Cheng Chief Technology Officer
Chung Hsin Tsai Executive Vice Chairman
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