Alibaba Is Closing In on Amazon's Market Capitalization: Chart
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Don’t look now, but the battle to be the world’s largest e-commerce company is heating up. Alibaba Group Holding Ltd.’s market value jumped after its annual investor-day conference on June 8 when the company forecast 45 percent to 49 percent revenue growth for the year ending in March. Since then, the market capitalization for China’s largest online retail company has surged from 65 percent to 87 percent of Amazon.com Inc.’s value.