Ma: Alibaba to create a myth of mavericks i dark horse: Alibaba listing of the early stage of all kinds of news about Ma's endless. Hereinafter referred to as the history of the most comprehensive reports on Ma, Ma, this article from the earliest talk about the cooperation with Yahoo, with their families, education, study abroad, etc. Ali established background, in-depth analysis of Ali's upbringing, right Ma internal control . Show a full, true maverick Ma. China World Hotel in Beijing's magnificent, with colorful confetti falling from the ceiling, dozens of cameras have pressed the shutter. That day was August 11, 2005, being held in Chinese e-commerce start-ups Alibaba global coming-out party. After months of intense negotiations, the US Internet giant Yahoo (Yahoo) finally agreed to invest $ 1 billion, and build deeper business relationship, to obtain a 40% stake in Alibaba. Alibaba founder Jack Ma (Jack Ma) smiles. He stands only about six meters, lean and capable. Ma and talk, today is Chinese Valentine's Day, Yahoo and Alibaba are a perfect combination: \u0026 ldquo; If you refuse, you're stupid. \u0026 Rdquo; this is Ma's coming-out party; this partnership will be to grow into an international giant Alibaba pave the way.
For several days, he went almost too excited and forget. The deal for the company to inject a lot of money, and it can freely use Yahoo's search technology. So he is quite proud, eBay CEO Meg and time \u0026 middot; Whitman (Meg Whitman) by a very aggressive acquisition attempts to lure Yahoo Alibaba bid. \u0026 Ldquo; Thank you, Meg \u0026 middot; Whitman, \u0026 rdquo; Ma then joked, \u0026 ldquo; thank you for letting it all possible. \u0026 Rdquo; (1996, Ma and his wife Zhang Ying and their \u0026 ldquo; China Pages \u0026 rdquo;. Website) But Ma views on the deal quickly changed. He worried that they too cheap to sell the shares, but also transferring too much control. Most if not all the shares for repurchase, Ma began several years of negotiations. With the deterioration of bilateral relations, Ma transferred the Alibaba rapidly growing online payment service PayPal (Alipay) of ownership to the entity controlled by themselves. He did not obtain the consent of the board of directors of Alibaba, but still did. Although expressed dissatisfaction with Yahoo, Ma seems finally to have got his wish. In 2011, he negotiated an agreement themselves and principal deputy several acquired a majority stake in Alipay. Known as the Pearl of the treasure to pay the company the crown. A year later, Ma clinched a let Alibaba stake in Yahoo reduction programs. Alibaba Group to start later this month so that the company's valuation will reach $ 160 billion, or an initial public offering (IPO), the investor who is the company's control will not have any doubts. Ma, 49, is the company's spokesperson, chief negotiator and top strategist. He is the largest individual shareholder with a 9 percent stake. 1999 apartment in Ma founded Alibaba, has now become a technology giant, it's worth more than eBay and HP (Hewlett-Packard) and other large US companies. Under the leadership of Jack Ma, Alibaba China not only has become the dominant force in e-commerce, but also became a symbol of China's stunning economic growth. This company has 250 million active buyers in China, which accounted for more than 60% of orders all express business in China. This success has allowed Ma became a kind of star CEO, who can in Davos with business executives talking giant, he led China's official visit to their own businesses, and through the book and DVD to promote its \u0026 ldquo; Ma Wisdom \u0026 rdquo ;. He is already one of China's top tycoons, and this IPO may make him worth more than 15 billion US dollars. Ma has pledged to donate a large part of the wealth, which will enable him quickly among the ranks of the world's most important philanthropists. (Before Ma and Alibaba IPO on the public statements of regulatory restrictions, refused to comment for this article.) Ma have been accustomed to doing things their own way. He often deals with close friends, in the field of implementation of seemingly unrelated acquisitions. Sometimes it is difficult to judge his investment for personal reasons or business reasons, because the boundaries of Ma's personal investment and assets between Alibaba sometimes very vague. Such activities are not always transparent, which is listed on the company's new investors may be a warning signal. Like many Chinese companies, Alibaba also operate under a complex ownership structure, which may limit the shareholders' right of veto. Both rebellious and precocious 马云生 long in Hangzhou in eastern China, it is home to the second of three children. His parents were Pingtan actor, which is a traditional art of rap. Neighbors said Ma childhood love trouble, and often very obedient.
However, Ma probably quite precocious. 10 years old, Ma liked English, he will be riding a bike to Hangzhou hotel, and foreign tourists to practice speaking. He said the experience made him see the outside world. (Bill and 梅里利 \u0026 middot;.. Aho (left) and Ma Aho had taught English at Hangzhou) because of bad math, Ma almost did not make the university. After the third time to take the exam, Ma was admitted to one of the local teachers' college. He performed very well in school, he was elected student body president. 1988 graduation, he got in Hangzhou Institute of Electronic Engineering to teach English, and $ 14 monthly salary, and soon became one of the school's most popular teachers. With the Chinese economy began to take off, he went to see the opportunity to start a business. His friends say, Ma and others in my spare time co-organized a translation company, in addition, he also sells drugs, stocks. \u0026 Ldquo; If I were 35 years old have not become a millionaire, you will kill me. \u0026 Rdquo; he and his friends Qi Xiaoning (phonetic) joked. In 1995, Ma first came to the United States. He previously taught English and Americans in Hangzhou Bill \u0026 middot; Aho (Bill Aho) to elfen lied cosplay make, so we cosplay inazuma eleven stayed at in Seattle Aho relatives. There, Aho's son Stuart \u0026 middot; Tel Christi (Stuart Trusty) first introduced to Ma World Wide Web. Tel Christi then runs one of America's first Internet service provider, VBN company. \u0026 Ldquo; at that time, I had a room at the US Bank Tower office, Jack comes after I showed him what is the Internet, \u0026 rdquo; Tel Christi said. \u0026 Ldquo; At that time, the Internet is basically just a government and guide for corporate use, but he seemed very excited. \u0026 Rdquo; Ma returned home, the founder of one of China's earliest Internet companies \u0026 ldquo; China Pages \u0026 rdquo; (China Pages); this is an online directory to help domestic companies looking for overseas customers. Former colleague said Ma worked tirelessly to recommend the services business, take pictures, collect information, and it translated into English. When finished, he handed the directory Seattle VBN, posted on the Internet. \u0026 Ldquo; at that time, the concept of the Internet of the Chinese people are still unfamiliar \u0026 mdash; \u0026 mdash; when we do introduction, we are at a loss, there is no reaction, \u0026 rdquo; Ma in \u0026 ldquo; China Pages \u0026 rdquo; one of the partners of 俞晓鸿 say . \u0026 Ldquo; China Pages \u0026 rdquo; a faltering start, but Ma is very optimistic. In 1996, he once went to Seattle to see VBN partner, seem confident that their future will be rich, and he travels along Aho said. \u0026 Ldquo; I remember, he looked at the Queen Anne Hill area expensive house, \u0026 rdquo; Aho recalled. \u0026 Ldquo; he pointed to the house, said: \u0026 lsquo; so rich, I want to buy the house, and that house \u0026 hellip; \u0026 hellip; \u0026 rsquo; at that time, he also broke. \u0026 Rdquo; Ma then lost control of this company. 1996, \u0026 ldquo; China Pages \u0026 rdquo; was forced to set up a joint venture with the Hangzhou Telecom. Through the deal, the government obtained for \u0026 ldquo; China Pages \u0026 rdquo; control.
Discouraged Ma went to Beijing, the Ministry of Commerce Office of Cofortune Internet advertising company (Infoshare) work. Where he spent only 14 months. I ma very much like to run their own company, then back to Hangzhou. \u0026 Ldquo; at that time, I think the government agencies do e-commerce is really too tiring, \u0026 rdquo; he said in a 2005 interview. \u0026 Ldquo; e-commerce should begin to start from the private sector. \u0026 Rdquo; (Ma (left) teenager and his brother, sister in China Hangzhou West Lake.) \u0026 Ldquo; whether you participate do not participate in \u0026 rdquo; Ma on February 21, 1999 founded the Ali Baba, when he put 17 friends gathered to Lakeside Garden Hangzhou second floor of his apartment. In this temporary headquarters, he talk, he talked about his ambitions, and how much we need China an excellent start-up companies. Ma Ali Baba's name is selected, and then he explained that because \u0026 ldquo; Everybody knows the story of Ali Baba. Ali Baba is a young man willing to help others. \u0026 Rdquo; the company also has a similar purpose: to help companies looking for overseas customers. If US retailers looking for a Chinese suppliers of cotton slippers, it might Alibaba (alibaba.com). If you want to own a Chinese manufacturer buttons exports to South Korea, it can also do advertising on this site. The idea according to Ma, Alibaba will become a virtual meeting room, wishing to carry out global trade service for small and medium enterprises. The company was founded at the beginning, bankers from Goldman Sachs (Goldman Sachs) as the XIA (Shirley Lin) visited Ma's apartment. She heard from a friend of Ali Baba, the friend called Caichong Xin (Joseph Tsai), a graduate of Yale, had been a lawyer, recently joined the Ali Baba. \u0026 Ldquo; I went to that apartment, where everyone worked day and night. \u0026 Rdquo; now teaches at the Chinese University of Hong Kong XIA as saying: \u0026 ldquo; the whole apartment was filled with an odor \u0026 mdash; \u0026 mdash; they soak up a lot of instant noodles to eat. Ma's idea is not the first of its kind \u0026 mdash; \u0026 mdash; other countries have also been attempted. But Ma was fully committed to its development in China. These saw and heard moved me. \u0026 Rdquo; a month later, Goldman Sachs led a $ 5 million investment in Alibaba. Soon after, chairman of Japan's Softbank, one of the world's richest man Masayoshi Son (Masayoshi Son) agreed to take the lead worth $ 20 million second round of financing. In addition to foreign investors, Ma also co-founder and 17 share a large part of the company's shares; many of the 17 people who were his friends and former students, his wife Zhang Ying was among them. \u0026 Ldquo; he was willing to share the results with others, which is very unusual, \u0026 rdquo; Softbank work Shey (Chauncey Shey), said he helped carry out the relevant early investments. \u0026 Ldquo; Most of the founders are reluctant to do that, so it makes us more confident for him. \u0026 Rdquo; but the power is still concentrated in the hands of Ma. He and his deputy Caichong Xin took possession of the company's four board seats two. Furthermore Ma Alibaba also controls for business in China's underlying companies. Chinese restrictions on foreign for some \u0026 ldquo; sensitive industry \u0026 rdquo; investment, including the Internet industry. To avoid a problem, Ma set up an offshore holding company in the Cayman Islands. Foreign investors to buy shares in the offshore company, and profit under contract. But most of the assets of Alibaba, but it is still controlled by Ma and another co-founder Xie Shihuang (Simon Xie) hands. This ownership structure is called \u0026 ldquo; a variable interest entity \u0026 rdquo; (VIE), in China's Internet companies are common. But for shareholders, VIE risk, because there is usually a lack of shareholder protection. (June of this year, a committee of the American government, warned that Americans use complex investment VIE structure of Chinese enterprises, it said in a report to Congress said, \u0026 ldquo; a significant risk, VIE's Chinese shareholders will ignore It is based on legal arrangements, steal from this entity interest \u0026 rdquo;.) (November 6, 2007, Ma Hong Kong Stock Exchange) Ma often have the final say in the strategy. As Alibaba started to make money in 2002, Ma proposed the establishment of a consumer audience site to compete with eBay. Senior management mostly opposed the idea, because the strength of eBay, the Chinese partner then has a huge market share in China. \u0026 Ldquo; Most managers have expressed their opposition at the time. \u0026 Rdquo; was chief technology officer at Alibaba Wu Jiong said: \u0026 ldquo; I said, \u0026 lsquo; we just break even. And each of the business school textbooks say, to concentrate on what you do best business. How can we build a second site it \u0026 rsquo;? \u0026 Rdquo; then served as president of Alibaba Guan Ming-sheng (Savio Kwan) I remember one night they were at a restaurant in Hangzhou intense discussion. Ma after winning the Chairman Masayoshi Son, Softbank to call. \u0026 Ldquo; He said: justice, we consider doing it. We want you to know, but whatever you do not participate in Senate, we will do so. \u0026 Rsquo; \u0026 rdquo; Guan Ming-sheng recalls. \u0026 Ldquo; just five minutes later returned the call and said, \u0026 lsquo; I wanted to join. \u0026 Rsquo; \u0026 rdquo; with the financial support of Softbank, Alibaba set up a secret working group to develop consumer website, which they called \u0026 ldquo; Taobao \u0026 rdquo ;. Ali Baba in July 2003 launch of Taobao, using the site to launch a guerrilla war and its Chinese partner, eBay eBay (Eachnet). EBay is an auction site more by extracting commission profit. Taobao allow more direct sales activities, and that the original is free. When Ma vowed Taobao will remain free in a few years time, eBay said in a statement to fight back, \u0026 ldquo; free is not a business model. \u0026 Rdquo; (Taobao now benefit through the toll.) Ma forecast, eBay operating in China will soon collapse because of the pressure they face a quick profit. Ma said it. Beijing BDA Ltd. (BDA China) founder Duncan \u0026 middot; Clark (Duncan Clark) said that in China, \u0026 ldquo; eBay really underestimated the tenacity of Ma and Alibaba ability to implement policies. \u0026 Rdquo; according to participate in the discussion were revealed after the rapid rise of Taobao, eBay try to reach an agreement with the treasure Amoy. By mid-2005, Whitman and Ma held secret talks in China to discuss cooperation with Alibaba, Taobao or acquisition matters. Ma was invited to visit the eBay headquarters in San Jose, California campus. However, according to people involved in the negotiations said that Ma wanted to maintain control, and co-founder Jerry Yang and Yahoo (Jerry Yang) were consulted, who was looking for new opportunities from China. They hit it off. Ma received a $ 1 billion fund to buy shares and invest in some shareholders. He also owns Yahoo China (Yahoo China) and a series of sites, he hopes these sites will Alibaba into a powerful force. (Ma attend Ali Baba's meeting.) In 2005 China World Hotel's news conference, Yahoo chief operating officer Daniel \u0026 middot; Rosensweig (Daniel Rosensweig) leans in Ma whispered. Rosensweig said memories of his, \u0026 ldquo; Jerry Yang has reminded me that no matter what I do, do not let Ma said he bought Yahoo. \u0026 Rdquo; Ma was later himself backward, laughing. Consolidate forces in this harmonious relationship did not last very long. After Jerry Yang in January 2009 resigned as CEO, Yahoo's new management team with senior Alibaba had a conflict.
Later that year, Yahoo and Microsoft (Microsoft) reached a Web search and advertising deal, and stop providing technical support for the Ali Baba, did not act in accordance with the provisions of the cooperation agreement. Yahoo also began to compete with Alibaba advertising business in China. More importantly, Yahoo flatly rejected the repurchase of shares of Alibaba raised. \u0026 Ldquo; after Jerry Yang to leave, everything changed, \u0026 rdquo; Alibaba former executives Wei said. \u0026 Ldquo; We have become their most valuable assets, the two sides did not exchange. \u0026 Rdquo; until 2011, Wei was one of Alibaba's top executives. Slowly fermented anger ultimate control. From mid-2009 to early 2011, Ma, Alibaba online payment service Alipay transfer ownership to a company controlled by him, successfully separated from Alipay Alibaba Group. This unilateral move angered Yahoo, Yahoo said the deal was approved by the Board without completion. Yahoo also said the company in March 2011 learned related news, when the company's financial department received the Alibaba a letter but said Alipay has \u0026 ldquo; \u0026 rdquo ;. be separated Ma later said he told the board related issues. But Ma said that the directors failed to make a decision, and he was forced to transfer the ownership of Alipay to comply with the new regulations regarding online payment services. Ma at the 2011 interview, said, \u0026 ldquo; If Alipay not get a license, it will become illegal organization, paralyzed Taobao out. \u0026 Rdquo; (Ma and Yahoo chief operating officer Daniel \u0026 middot;. Rosensweig (right)) After intense negotiations, Yahoo, Softbank and Alibaba reached an agreement, the agreement seems to Ma favorable. Holds a 70% stake in Alibaba, Yahoo and Softbank will acquire 49% of revenue Alipay. Ma and the rest owned by a number of unnamed employee-owned. As part of the agreement, Ma also obtained for the control of a holding company, which owns PayPal and other financial services subsidiaries. Alipay Alibaba each site principal payment platform. This holding company \u0026 mdash; \u0026 mdash; Zhejiang small and micro financial services group's business has been extended to financial products, small business lending, and has become China's largest money market funds. According to analysis of sources, the Group is able to benefit customers through Alibaba, now worth about $ 25 billion. Independent financial analysts in Beijing Frederick \u0026 middot; 奥奎 Manchester (Fredrik \u0026 Ouml; qvist) said, \u0026 ldquo; he is basically within the company set up a large company, which has almost all the business Alibaba association. \u0026 Rdquo; around the same time, Ma began with a handful of businessmen he make of active trading. This group includes some of China's most successful entrepreneurs, such as Shanghai Fuxing Group, Guo Guangchang, chairman Shen Guojun retail real estate developer China Yintai Investment Co., Ltd., as well as online gaming company giant network Shi Yuzhu. They work together to create a cross-cutting trading network, obtain benefits for individuals and companies. The business community is called \u0026 ldquo; \u0026 rdquo ;, Zhejiang help because many members are in the Zhejiang province fortune, in 2010 it helped Ma Yunfeng fund the creation of a private institution. The fund has since become a channel Alibaba other related transactions. For example through public filings found that Shi Yuzhu giant network management by Yunfeng Fund purchased $ 50 million worth of shares of Alibaba. After less than three years to $ 200 million shot. These businessmen will establish a joint venture. Last year, Alibaba founder of a company called \u0026 ldquo; novice \u0026 rdquo; the company plans to spend $ 16 billion to build China's logistics network. Alibaba stake of 48%. Other investors include Fosun and Intime. Intime Shen Guojun was a novice executive chairman. Analysts and business ethics experts believe that such activities are blameless. But they also cautioned that if not adequately disclosed insider trading, may lead to question the regulatory authorities. \u0026 Ldquo; why they would allow Yunfeng involved \u0026 rdquo;? Investment Advisors Miki Kim (J Capital Research) analyst in Hong Kong, Jeff \u0026 middot; Dole (Jeff Dorr) said. \u0026 Ldquo; What Are The Benefits \u0026 rdquo;? The majority of members of the business community have declined to comment. In an interview, Shen Guojun defended these transactions, said Ma formed a circle of mutual trust, which is common in Chinese business. Shen Ping insisted that the group will follow the rules of conflict of interest act. (August 2005, Ma participated in Alibaba global coming-out party, the background picture is Yahoo founder Jerry Yang (left) and Ma.) \u0026 Ldquo; listed companies to accept very strict supervision and management, we must obey, \u0026 rdquo; Shen Ping said. \u0026 Ldquo; we will be assisting. \u0026 Rdquo; With such a functioning network and companies closely linked, Alibaba very aggressive action to further expand the scope of the transaction. Alibaba's acquisition last year the total value of more than 6 billion US dollars, the acquisition of objects from the navigation system, online video station to a professional football team, all-encompassing. Structure may be very complex transactions. For example, in April, Alibaba said it has agreed to co-founder and chief executive Xie Shihuang provide $ 1 billion loan for the acquisition of the number of Chinese Internet television company 20% stake in the media. Ma and Shi Yuzhu giant network is a partner in the transaction. On the same day, Alibaba announced plans to cooperate with China number. This fast-paced deal also make it more difficult for companies to properly assess. This year, Alibaba acquired the film production company culture China Media Group, the company subsequently changed its name to Ali Baba Films. Just a few weeks ago, Ali Baba, said the company found that the presence of suspicious accounts. Nurture relationships with the company's growth, not just physical retailers to shake Ali Baba, also enter the government-led industries, such as media, finance, and telecommunications. In order to resist the government's digestion, a friend said Ma more attention to the cultivation of relations with Beijing. For example, Ali Baba is one of the main sponsors of the China Youth Business International program, the government-backed charity is to make XX X's wife Gu Ping created, and so at that time as president of the right-hand man, is considered China's most One powerful officials. Ma, vice president of the non-profit organization under the Ministry of Culture or the Chinese Cultural Industry Association. Meanwhile, Ali Baba is still developing and politicians linked to investors. In 2012, the company used $ 7.6 billion to repurchase from the hands of a lot of Yahoo shares, which again sold a large cosplay costumes for sale part of China's sovereign wealth funds and two private institutions. One of them is BoYu capital, former President Jiang Jiang XX XX of the Sun is one of the founder of this private company. You can see it from our records, not long before private equity capital to participate in the new XX XX when he was prime minister, son of the founder of Wen also bought large shares of Alibaba. Alibaba is also one of the largest state-owned conglomerate China CITIC has 过数 deal. Earlier this year, Alibaba and Ma Yunfeng Capital private equity funds invested $ 171 million to obtain a controlling stake in CITIC's software and logistics providers CITIC 21st century. Alibaba after the deal announcement, the company stock price rose 500%. (Hangzhou, teenager Ma.), Analysts say, to engage in business activities in China, and the government is a vital part of the alliance. Companies believe that this approach will help them improve the chances of obtaining permits and licenses. One level, this is an insurance policy for strong government intervention. Ma decided to overseas listing in the United States, but also for maintaining consider this status. Alibaba had considered listing in Hong Kong. Notwithstanding the provisions of one vote, the company is able to grant its request for the Hong Kong stock exchange listing; partner Alibaba unusual structure, so including executives, including Ma has more power. After the Hong Kong regulators refused to make an exception, Ali Baba began to seek a listing on the New York Stock Exchange, the ownership structure of the latter to be more tolerant of some kind. Until the time of Alibaba IPO later this month, investors can go to judge this in power Ma is selling or obstacles. Yahoo and Softbank has reached a settlement, as long as income is not a problem. Season after season, year after year, Alibaba can always come up with an alarming increase in performance. This 2004 revenues of approximately $ 50 million of the company, is expected to close this year's final $ 10 billion. In 2005 the chief of that trade negotiators 罗森史威格 former Yahoo executives said: \u0026 ldquo; now it seems, Alibaba achievements of a great story. \u0026 Rdquo;