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Alibaba chief: We’re not a retailer, and we will double revenue in 4 years

June 15, 2016

Alibaba Group has some big business aspirations, and the top one is to more than double revenue in the next four years, with a goal of hitting $1 trillion.

Oh, and by the way, the ecommerce giant isn't a retailer.

Those are the declarations from CEO Jack Ma, according to a TechCrunch report.

"I can understand because we are a company from China and we are doing something that nobody has done before in history and very, very few people have used our service in America. Good things always take time and patience," said Ma, according to TechCrunch.

If it attains its goal, the Chinese company would be as rich as the world's fifth-richest country, according to Ma, who recently spoke at the company's first Investor Day event in China. he described his company as a "data business," according to TechCrunch.

Ecommerce action won't be enough to attain the revenue goal, acknowledged Ma, admitting that big data and cloud computing initiatives were key aspects.

When it comes to consumer reach, Alibaba hopes to serve two billion in the same projected time frame, according to TechCrunch, and the key to that will be luring in 1.2 billion consumers outside of its China customer base.