Ma’s academic-like curiosity has been a hallmark of his success in the business. He started his career as an English teacher, after learning the language by talking to Western tourists in his native place, Hangzhou and by watching movies. In a group of Chinese entrepreneurs, Ma was one of the first to discover the internet, and he had an ability to show up at the right time in the right place. In 1997, while working for the Ministry of Commerce of China between the startup efforts, Ma was designated to
In the meantime, Ma is following his twin goals of enhancing the fortunes of small businesses and bashing down trade barriers. Alibaba has one of the modest mission statements: “to make it easy to do business anywhere.” In China, this statement meant to invest in Cainiao, which is a network of logistics companies. Alibaba possess 47% that hugely improved on the governments meager capabilities of the postal delivery system. Alipay is impudently branching out from the payment processing to the loans, at times infuriating massive state-owned banks of China. Ma has designed a new label for such enterprises i.e. the World e-Trade Platform, or eWTP, which is a comprehensive phrase to describe the global integration of the e-commerce systems of Alibaba.
explains its increasing sales figure, Alibaba is an “asset-light” platform of technology, which makes money usually by charging for advertising and several other sales-related fees. There is a business authoritative behind the global leadership of Ma, assumed that nothing transpires in China without the implicit or explicit permission of government.
Ma has an astonishing declaration, which is that he wants to retire. He says that he began to prepare for that day from the age of 45. As he doesn’t want to be one of those old men who keep attending the board meetings long after they actually have lost their mojo. They should give a chance to the young generation.
Various observers who are close to Alibaba point out that none of the major decisions take place without him and he continues to figure the strategy for Alibaba. He only owns just fewer than 8% of the organization. And Ma’s travelling serves the global ambitions of Alibaba. Ant Financial, which runs the dominant Chinese payments verticle Alipay, and Alibaba have invested in Paytm, which is an Indian e-commerce player. And although Alibaba’s operational ventures into the U.S. market have been secretive, it has also invested in U.S. startups, including Lyft, Snap and Magic Leap.
work as a translator for Jerry Yang, Yahoo co founder; when he was on a visit to Beijing. In 2005, Yahoo went on to invest $1 billion in Alibaba and is on its board today also with a stake in Alibaba of worth $40 billion.
In year 2013, Ma stepped down as CEO of Alibaba and Daniel Zhang joined the company in 2007, who is also the current CEO of the company. Being a board member of Nature conservancy, for Ma; his company and the environment are two sides of the same coin. Like the different modules of nature have to work together in one ecosystem; Alibaba also needs to work with government, society and all kinds of organizations, as stated by Ma.
Ma has contracted with various international organizations, in the process of raising his and Alibaba’s stature. Previous year Ma was entitled a special adviser on the youth entrepreneurship and small businesses on Trade and Development to the United Nations Conference, and he is a fixture at the World Economic Forum in Davos, Switzerland—the exceptional Chinese executive who assemblies as easily with the Western peers as with those in China.
In year 2005, Alibaba bought the South China Morning Post; English-language newspaper, around two years after the Washington Post was bought by Bezos. Same as Bezos, he has taken a remote tactics, meeting rarely with its staff, having mounted his longtime deal of making confidant, vice chairman Joe Tsai, as the head of the Alibaba. Whereas, Bezos mounted his purchase as supporting an institution integral to the democracy, Ma elucidated his investment by ensuring that the non-Chinese-speakers have access to high-quality details about China.
The chairman of Alibaba sees his high profile like a responsibility. He stated that running such a big economy i.e. worth of $485 billion economic activity, which took place in Alibaba last year, one has the responsibility to share his thoughts with people. The ideas, decisions, policies of Alibaba are going to influence the lives of half a billion people. Alibaba’s business activity scope is instructive, again, in comparison with Amazon’s. However, the revenue of around $22 billion of Alibaba is less as compared to $136 billion of Amazon’s in sales; still Alibaba is far more lucrative. Ma’s organization had an operating profit of $6.7 billion in the 12 months ending Dec. 31, and Amazon’s operating profit is $4.2 billion. Whereas, Amazon possesses warehouses and takes possession of much of the inventory that it sells, which also
A decade ago, it would have been profound that the leader of biggest e-commerce company of China would be perchance the most protruding corporate voice on world trade, however no more implausible than that the President of China would give a pro-globalization address to the World Economic Forum in Davos, as Xi Jinping did in January. When Xi spoke, Ma was in the audience and he met with Xi there. Ma mentioned that Xi made a superb speech and a commitment to the globalization. He continued Xi’s speech by saying that no doubt globalization is a great start, but it is just the beginning. “Globalization is a baby, and the baby is having growing pains,” obliquely were referring to the full-throated trade challenges of Trump to China. “We should not kill the baby because he cries a lot.”
After that Ma pivots to capitalism from government, admiring his faith in the power of business to achieve what politicians cannot. Perhaps the business community has to drive this instead of government and he feels sorry for the government.
"If one put 200 leaders of country in the same room trying to apprehend something, then it’s impossible. But when one puts 200 businessmen in one room, they might work something out; he added."
- Jack Ma