Alibaba Cloud pledges $1B to boost overseas alliance
By Editor - Thu Sep 22, 3:38 am
Alibaba is known for its sprawling e-commerce empire, but like Amazon, cloud service has been a big driver of its revenues in recent years. The Chinese cloud giant is ready to double down on its overseas reach and announced today a $1 billion investment in a “global partner ecosystem upgrade.” Alibaba Cloud is now the world’s third-largest public cloud provider , an achievement that’s inseparable from the large network of local allies it’s formed worldwide. The company is constantly recruiting local partners to take on responsibilities such as sales, technical support, and customer services. The $1 billion initiative is meant to “support partners’ technology innovation and their market expansion with Alibaba Cloud in the coming three fiscal years,” the company said. The money will come in both financial and non-financial incentives, including funding, rebates, and go-to-market initiatives. Alibaba Cloud currently has around 11,000 partners worldwide, including Salesforce, VMware, Fortinet, IBM, and Neo4j. Alibaba Cloud enjoyed a 9.5% market share in 2021, trailing Microsoft (21%) and Amazon (39%), according to market research firm Gartner . The cloud service, with a base in Hangzhou and an expanding footprint around the world, has become the go-to cloud solution for many Chinese businesses expanding overseas.
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