Alibaba Group Type Private Industry Internet, e-commerce, computer software Founded in Hangzhou, China(1999) Area Served China and overseas Alibaba group primarily operates in the PRC, and in March 2013 it was estimated by The Economist magazineto have a valuation between $55 billion to more than $12o billionAlibaba Group Type Private Industry Internet, e-commerce, computer software Founded in Hangzhou, China (1999) Area Served China and overseas Alibaba Group primarily operates in the PRC, and in March 2013 it was estimated by The Economist magazine to have a valuation between $55 billion to more than $120 billion. 3