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Alibaba’s Ma sees $1 trillion in transactions in five years

Jack Ma, Founder and Executive Chairman of Alibaba Group addresses the Economic Club of New York at the Waldorf Astoria Hotel in the Manhattan borough of New York City, June 9, 2015. REUTERS/Mike Segar

Chinese e-commerce company Alibaba Group Holding Ltd is aiming to more than double its transaction volumes to more than $1 trillion in five years, Executive Chairman Jack Ma told a conference in Chicago on Wednesday.

Jack Ma, Founder and Executive Chairman of Alibaba Group addresses the Economic Club of New York at the Waldorf Astoria Hotel in the Manhattan borough of New York City, June 9, 2015. REUTERS/Mike Segar

http://www.reuters.com/article/2015/06/10/us-usa-economy-alibaba-growth-idUSKBN0OQ2D120150610

Ma said the group would achieve $1 trillion in sales in five years.

A spokesman for the group said he was referring to ross merchandise volume, a measure of the transactions across its various platforms, which came to roughly $390 billion in the past fiscal year.

(Reporting by Nandita Bose in Chicago; Editing by Phil Berlowitz)

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