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Tag Archives: Jack Ma

Alibaba Invokes Hiring Freeze

Alibaba Group is freezing hiring for the rest of the year because it has grown “too quickly,” Executive Chairman Jack Ma told staff. The hiring freeze came to light about a week before Alibaba is due to report March quarter earnings on May 7.   In January, Alibaba, which handles more online commerce than Amazon and eBay combined, reported slowing revenue ... Read More »

Alibaba Said to Have Acquired 20% Stake in Wasu Media for US$1bn

Alibaba Group has reportedly acquired a 20% stake in Wasu Media Holding Co worth about US$1 billion. Shenzhen-listed Wasu Media said on March 4 that it would suspend trading on the local stock market as it planned to adjust a private placement scheme.  A spokesperson for Alibaba offered no comment in response to the market speculation.  A Wasu spokesperson said ... Read More »

The Financial Times Names Jack Ma of Alibaba as Person of the Year

The Financial Times (FT) has named Jack Ma, Chairman of the Alibaba Group, Person of the Year for stepping back from Alibaba to tackle one of China’s biggest problems, the looming environmental disaster.  Jack Ma declared in an interview, because of problems with water, air and food safety, it will be one area where he will invest his money and ... Read More »

Yahoo to Keep Larger Stake in Alibaba after its IPO

Yahoo stated it will keep a larger stake in Alibaba Group Holding Ltd than originally planned after it goes public, hoping to profit from the Chinese e-commerce company’s future growth. Founded by billionaire Jack Ma, Alibaba is expected to file for an estimated $15 billion IPO in 2014, valuing the operator of retail, auction and content websites at more than ... Read More »

Alibaba Sales ‘to Surpass Entire US e-Commerce’ by Year End

Alibaba’s chairman Jack Ma stated that sales of Alibaba Group Holding Ltd’s e-commerce business are expected to surpass those of the total retail e-commerce in the United States by year end.   Alibaba has a also a near-term target to exceed Wal-Mart to become the world’s largest e-commerce retail company by 2015.  Ma added that Alibaba aims to be an innovative company, just as Wal-Mart was in the last century, when the ... Read More »

Alibaba Reshuffles and Jack Ma Steps Down

Alibaba Group announced it will undergo another major restructuring to adapt to China’s changing e-commerce environment and reaching the company’s goal of becoming an e-commerce “ecosystem”. The latest Alibaba restructuring sees the company divided into 25 business units, which will be overseen by two committees – a strategic committee and an execution committee primarily made up of nine top company ... Read More »

Alibaba Eyes Online Financing Partnership

According to media reports, Alibaba Group chairman and CEO, Jack Ma, is looking to establish a joint venture to create an Internet-based financing business. The two other partners involved are reportedly represented by Ma Huateng, founder and CEO of Chinese Internet firm Tencent Holdings and the Ping An Insurance Group, respectively. In April 2010, Alibaba was granted a license in ... Read More »