Alibaba vs Blinkit: Revenue, Profit and Business Model
Alibaba had ~$142.3B of annual revenue in FY2026 and ~$14.4B of net income. Blinkit had ~$4.4B of annual revenue in FY2026.
Latest financial snapshot
Financial summary
Alibaba
Revenue rose from ~$22 billion (RMB158.3 billion) in FY2017 to ~$142 billion (RMB1.024 trillion) in FY2026. Net income was ~$14.4 billion (RMB103.6 billion) in FY2026, down from ~$17.5 billion (RMB126.0 billion) in FY2025. Alibaba reports on a March 31 fiscal year and invests heavily in commerce, cloud and AI infrastructure. Alibaba Group is a Chinese multinational technology titan with a market valuation typically hovering around $200 billion.
Blinkit
Eternal's quick-commerce segment reported revenue from external customers of ₹37,779 crore in FY2026, compared with ₹5,206 crore in FY2025. That increase is not a like-for-like measure of order growth: during FY2026 Blinkit shifted from mainly recording marketplace commissions to also recording the full value of goods it sells from owned inventory. In the September 2026 quarter (Q2 FY2027), the segment reported ₹19,152 crore of revenue, while net order value (NOV) grew 79.3% year over year to ₹20,940 crore. Adjusted EBITDA was ₹184 crore, equal to 0.9% of NOV, and the network ended the quarter with 2,751 stores. Adjusted EBITDA is Eternal's non-GAAP operating measure; Eternal does not disclose standalone Blinkit net profit. The segment's reported result was ₹488 crore in the quarter, which is a different measure from adjusted EBITDA. These figures come from Eternal's Q4 FY2026 and Q2 FY2027 results and should not be combined with parent-company totals as additional revenue.
Revenue and profit by year
Alibaba
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$142.3B | ~$14.4B | 10.1% | +2.7% | Source |
| FY2025 | ~$138.5B | ~$17.5B | 12.6% | +5.9% | Source |
| FY2024 | ~$130.8B | ~$9.9B | 7.6% | +8.3% | Source |
| FY2023 | ~$120.7B | ~$9.1B | 7.5% | +1.8% | Source |
| FY2022 | ~$118.6B | ~$6.5B | 5.5% | +18.9% | Source |
| FY2021 | ~$99.7B | ~$19.9B | 20.0% | +40.7% | Source |
| FY2020 | ~$70.8B | ~$19.5B | 27.5% | +35.3% | Source |
| FY2019 | ~$52.4B | ~$11.2B | 21.3% | +50.6% | Source |
| FY2018 | ~$34.8B | ~$8.5B | 24.5% | +58.1% | Source |
| FY2017 | ~$22B | ~$6.1B | 27.6% | — | Source |
Where the revenue comes from
Alibaba
- China commerce
Not formally reported
Alibaba earns revenue through China commerce.
- international digital commerce
Not formally reported
Alibaba earns revenue through international digital commerce.
- cloud intelligence
Not formally reported
Alibaba earns revenue through cloud intelligence.
- logistics services
Not formally reported
Alibaba earns revenue through logistics services.
- local services and digital media
Not formally reported
Alibaba earns revenue through local services and digital media.
Blinkit
- Sale of Goods (Owned Inventory)
Not formally reported
Since September 1, 2025, Blinkit buys stock from brands and distributors and sells it directly, so the full value of goods sold is booked as revenue. This is now the bulk of reported revenue.
- Advertising (Blinkit Ads)
Not formally reported
Brands pay for sponsored search results, banners and product placements inside the app. Eternal does not break out Blinkit's ad revenue.
- Customer Delivery and Platform Fees
Not formally reported
Delivery charges, handling fees and small-cart fees paid by customers on qualifying orders.
- Marketplace Commissions (Before September 2025)
Not formally reported
Until the inventory switch, Blinkit earned commissions and warehousing fees from sellers listing products on its marketplace, which is why revenue was much smaller before FY26.
Business model and strategy
Alibaba
How it makes money
Alibaba earns revenue from customer-management services and commissions on its China commerce marketplaces, direct sales and logistics services in international commerce, cloud products and services, Cainiao logistics, local services, and digital media. Taobao and Tmall primarily connect merchants with consumers rather than operating only as first-party retailers.
Growth strategy
Facing intense regulatory scrutiny and fierce domestic competition, Alibaba's growth strategy recently underwent a large structural overhaul. They announced a plan to split the empire into six separate, independent business groups (like Cloud, E-commerce, and Logistics), allowing each to operate faster and potentially seek their own IPOs.
Competitive advantage
Alibaba's primary moat was its large network effect within China; virtually every merchant had to be on Taobao because that's where all the consumers were, and vice versa. their proprietary logistics network (Cainiao) and deep integration with Alipay created a frictionless ecosystem for Chinese consumers.
Blinkit
How it makes money
Blinkit runs a network of small warehouses that are closed to walk-in shoppers (dark stores), placed close to dense residential areas. Customers order in the Blinkit app, staff pick and pack the order inside the store, and delivery partners ride it to the door, usually within minutes.
Growth strategy
Blinkit's stated plan rests on three levers: assortment expansion, geographic expansion and demand densification. Assortment means taking more cities closer to the roughly 80,000 SKUs offered in Delhi-NCR and adding categories such as electronics, toys, beauty and premium groceries.
Competitive advantage
Blinkit's edge is store density and assortment built ahead of rivals. It ended June 2026 with 2,443 dark stores, more than any competitor, and a 2026 CLSA count found 969 Blinkit stores across India's top 10 cities against 828 for Zepto and 627 for Flipkart Minutes.
Questions about Alibaba vs Blinkit
Which company has higher revenue — Alibaba Group Holding Limited or Blinkit?
Alibaba Group Holding Limited had ~$142.3B (FY2026), while Blinkit had ~$4.4B (FY2026). By latest annual revenue, Alibaba Group Holding Limited is the larger business, with Blinkit showing a smaller revenue base.
What is the market cap of Alibaba Group Holding Limited vs Blinkit?
Alibaba Group Holding Limited has a market capitalisation of $266.6B. A public market cap figure for Blinkit was not available (it may be privately held).
How does revenue per employee compare for Alibaba Group Holding Limited and Blinkit?
Alibaba Group Holding Limited generates $1.08M / employee in revenue per employee. A comparable figure for Blinkit requires matching employee and revenue data from the same reporting period.
How do Alibaba Group Holding Limited and Blinkit make money?
Alibaba Group Holding Limited and Blinkit generate revenue in fundamentally different ways. Alibaba Group Holding Limited: Alibaba earns revenue from customer-management services and commissions on its China commerce marketplaces, direct sales and logistics services in international commerce, cloud products and services, Cainiao logistics, local services, and digital media. Blinkit: Blinkit runs a network of small warehouses that are closed to walk-in shoppers (dark stores), placed close to dense residential areas.
Is Alibaba Group Holding Limited bigger than Blinkit?
By last reported revenue, Alibaba Group Holding Limited (~$142.3B (FY2026)) is the larger company compared to Blinkit (~$4.4B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Alibaba vs Blinkit overview