“Before I left China, I was educated that China was the richest, happiest country in the world. So when I arrived Australia, I thought, ‘Oh my God, everything is different from what I was told.’ Since then, I started to think differently” – Jack Ma
Jack Ma, Alibaba’s founder, Jack Ma, founder and chairman of the Chinese internet behemoth Alibaba, built his empire through charisma and perseverance. Alibaba was found in 1995, back then this is so rare and risky that the reporters often referred to him as “Crazy jack”
The jokes on them, Why? Because his company has a market value of more than $200 billion. Not bad for a man who failed his college entrance exams twice and started his career as a poor schoolteacher. Maybe back then it was crazy, but people are coming up with sorts of new ideas, each one better that the other. Uber for clothes/Uber for anything. Get the Alibaba clone now and be as rich and crazy as Jack ma. Alibaba, which filed for its US IPO on Tuesday, is frequently called the Amazon or eBay of China. But while there may be similarities in their business model, the online shopping experience for customers can be quite different indeed. Alibaba’s shareholder list contains some well-known names from around the globe — from China and Japan to Singapore, Silicon Valley and Russia.
The app is very similar to Amazon and eBay but is very different at the same time. The customers are happy with the concept but the delivery takes more time than usual. Well, everything can’t be perfect, unless you get the Clone of Alibaba and make it PERFECT!
Chinese ecommerce giant Alibaba made its long-awaited filing for an initial public offering in the US, a deal which could ultimately top Facebook’s debut two years ago with an estimated $120bn valuation.
Alibaba is taking a minority stake in China’s largest online video site, Youko Tudou, as it prepares for its own blockbuster initial public offering in the US. You Tudou said on Monday that the Chinese e-commerce group, together with its founder Jack Ma’s Yunfeng Capital, would jointly invest $1.2bn in the video site. Alibaba will hold 16.5 per cent stake in Youku after the deal, with Yunfeng holding 2 per cent.
A listing could garner as much as $25bn for example – making it the largest float in history. Wall Street banks could reap up to $400m in fees. Alibaba’s $170bn annual revenue now accounts for 2 per cent of China’s gross domestic product, and is bigger than those of eBay and Amazon combined.
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