According to the financial quarterly report, Alibaba Cloud revenue grew by 93 percent, putting it in a direct competition with the likes of Google Cloud and Microsoft Azure.
In case you missed it, Alibaba Cloud is a subsidiary of Alibaba Group, a big Chinese company that has its hands in retail/e-tail, technology and more. The core business of the Alibaba Group is retail/e-tail and commerce, which reported a revenue of around $10 billion.
The recently announced financial report, the revenue of Alibaba Cloud subsidiary grew by 93 percent, ending at $710 million. While this is nowhere close to the $6.9 and $9.6 billion which Microsoft reported from its commercial and intelligent cloud businesses, or $4.4 billion reported by Google, but still it puts the Alibaba Cloud on the map, especially in China where it holds a strong first place.
“The exceptional growth across our major segments of core commerce, cloud computing and digital media and entertainment validates our strategy of investing in customer experience, product, technology and infrastructure for the future. We remain confident in our ability to continue to gain market leadership by delivering unique value propositions to our business customers, partners and consumers”, said Maggie Wu, Chief Financial Officer of Alibaba Group.
According to some reports, Alibaba Cloud holds the fourth place in worldwide cloud infrastructure, just below the Amazon Web Services (AWS), Google Cloud, and Microsoft Azure.
Alibaba is definitely pushing its cloud business to the new level, and it even plans to go outside the Chinese market, with the recent cooperation with Hewlett Packard Enterprise (HPE), which will offer Alibaba Cloud’s hybrid cloud stack on HPE hardware in Asia-Pacific region (except China).