Alibaba ranks first on the list of most disruptive tech companies in the world, according to an annual KPMG report, Chinanews.com reported.

Leaders of 800 global tech companies selected Alibaba as the company they worry about most, according to the report. Facebook, which ranks second on the list, got far fewer votes.

“Alibaba is gaining momentum in areas such as payments, logistics, finance, cloud computing, big data, and new retailing. KPMG's ranking for Alibaba is just right", commented Forbes Magazine.

Alibaba is the first Chinese company to ever make the KPMG list. The report has truthfully reflected Alibaba’s rapid transformation from an e-commerce brand to a technology company over the past few years.

The 2018 KPMG Report was divided into two parts; the first was released back in March, indicating that Shanghai will be the star of tomorrow and will go on to compete with Silicon Valley, while the second part analyzed the disruptive innovators in the technology industry.