Alibaba's $71M Bet On Ably Corp Turns It Into South Korea's First Unicorn of 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2024
0mins
Source: Benzinga
Alibaba's Investment in Ably Corp: Alibaba Group has invested $71.4 million in South Korean apparel brand Ably Corp, making it the first unicorn of 2024 with a valuation exceeding $1 billion, significantly up from its previous valuation of 900 billion won.
Market Impact and Valuation Changes: This investment marks Alibaba's first equity stake in a Korean shopping app, while Ably's valuation has surged to approximately 3 trillion won, reflecting a growing trend in the South Korean startup ecosystem.
Analyst Views on BABA
Wall Street analysts forecast BABA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BABA is 198.21 USD with a low forecast of 152.00 USD and a high forecast of 240.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
19 Buy
2 Hold
0 Sell
Strong Buy
Current: 170.930
Low
152.00
Averages
198.21
High
240.00
Current: 170.930
Low
152.00
Averages
198.21
High
240.00
About BABA
Alibaba Group Holding Ltd is an investment holding company mainly engaged in the provision of technology infrastructure and marketing platforms. The Company operates its business through nine segments. The China Commerce Retail segment is engaged in the China commerce retail business. The China Commerce Wholesale segment is mainly engaged in the operation of 1688.com. The Cloud Intelligence segment provides cloud services. The International Commerce Retail segment provides customer management services, sales of goods and logistics services. The International Commerce Wholesale segment is mainly engaged in the operation of Alibaba.com. The Cainiao Represents Logistics Services segment provides fulfilment services. The Local Services segment’s revenue includes platform commissions, logistics services revenue. The Digital Media and Entertainment segment engages in the operation of Youku and Alibaba. The All Others segment is mainly engaged in the Sun Art, Freshippo and other business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
