alibaba: The Inside Story Behind Jack Ma and the Creation of by Liu Shiying, Martha Avery

By Liu Shiying, Martha Avery

the 1st in-depth examine the multibillion-dollar corporation Alibaba.com—known to many as "China's eBay"—and the inspirational tale in the back of the guy who created it.

A bestseller in China and now translated into English and up-to-date with contemporary occasions, Alibaba through Liu Shiying and Martha Avery tells the notable tale in the back of the net phenomenon Alibaba.com and its founder Jack Ma, a guy Barron's named one of many World's best 30 CEOs in 2008. Ma's upward thrust to prominence offers a riveting tale: regardless of transforming into up in China in the course of the Cultural Revolution—in a interval of overall nation regulate of the economy—he built the prepared entrepreneurial instincts that propelled him to billionaire prestige and enabled him to construct an organization outdoor the standard executive channels. those instincts and behavior integrated martial arts education and allowed him to acknowledge, early on, that the web may leverage his corporation to quick progress and likewise rework the best way company is finished worldwide.

Alibaba.com, the place companies can purchase and promote every thing from air beds to zippers, began with a modest preliminary funding of $60,000 and has grown exponentially seeing that its founding in 1999 to turn into the world's largest business-to-business website. In 2007 it grew to become the second one biggest IPO in historical past (after Google), and Fast Company has named it one of many world's such a lot cutting edge businesses. for this reason, clever traders and expertise insiders might be preserving an in depth eye on Alibaba for years yet to come. even if you're trying to comprehend China's meteoric upward thrust, or simply looking for the subsequent Google, Yahoo!, or Amazon, Alibaba is important analyzing.

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Extra resources for alibaba: The Inside Story Behind Jack Ma and the Creation of the World's Biggest Online Marketplace

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Jerry Yang and David Filo had created Yahoo! in 1994 while at the same time studying for graduate degrees at Stanford, but by 1995 they had received $1 million in investment and were devoting all their time to the Internet. In China, there was no way to dial up and reach the Internet from Hangzhou, and it was hard from most other places. Beijing had started a connection from the Academy of Sciences, but information was strictly controlled. It was not surprising that Ma’s friends opposed the idea of making an actual business out of this situation.

Wal-Mart can force a supplier to accept a low price because it is making orders in the tens of millions. A supplier has no way out but to accept. The next year, though, Wal-Mart has an auction among suppliers for the same product and somebody else gets the order. The first guy is washed up. He has no fallback, he has no marketing arm. If he goes through the Internet, on the other hand, he can look all over the world on a global scale for customers and keep a customer base of his own. ” The proletariat had been called to arise and liberate themselves in the past, but now Jack Ma wanted the countless small enterprises of his homeland to liberate themselves.

This had both positive and negative connotations, but many at the time regarded the “legitimization of Internet use” as positive. Any rule allowing use of the Internet was a step forward. Many knew that the government would unavoidably put stringent controls on the Internet. At the same time, all knew that if China wanted to develop high-tech industries, its government had to figure out a way of accommodating this new technology. Media Promotion After meeting with Zhang Shuxin, Jack Ma returned to Hangzhou.

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