The logo of Chinese instant messaging platform called WeChat, which has taken the country by storm in just three years. Chinese Internet giant Tencent poses a big challenge to Ali Baba's dominance of e-commerce in China with its payment function known as Weixin - AFP Photo.
SHANGHAI: Alibaba's dominance of online retail in China faces its biggest-ever challenge as the firm founded by Jack Ma in a one-room apartment 15 years ago lines up a US initial public offering that could value the firm at around US$140bil.
In a rare blip, Alibaba Group Holdings lost market share last year while its nearest rivals all grew, according to Euromonitor.
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