Introduction
It is apparent that, the dramatic growth of Internet creates a great number of powerful companies and billionaires. To a great extent, Ma Yun is a legendary one of them in China, because of the significant growth of his company, Alibaba Group. Alibaba was founded in Hangzhou in 1999 (Alibaba-Group, 1999) and it is one of the largest platforms for online trade and business communication now. Alibaba is based on online platform and started in e-commerce B-to-B (Business to Business) model but it is Alibaba is no longer limited to B2B model only. Alibaba seems to be an Internet e-commerce company. However, actually, it is a series of large platforms, which are based on the Internet. These platforms include B-to-B, B-to-C (Business …show more content…
The first website of the company was an English global wholesale market website. Alibaba also launched China trading market, which called ‘1688’ now. Then, Alibaba financing 25 million US dollars in total from Softbank and other international investment institutions in October 1999 and January 2000 (Alibaba-Group, History and Milestones, 2000). In May 10, 2003, Ma founded Taobao, which become one of the most prevalent products, and began to grab market share from eBay in C-to-C market. In addition, he created another famous product, Alipay, which is a third-party payment platform in the end of 2004. In 17th August 2005, Yahoo obtain 40% of Alipay shares and 35% of its voting rights. It costed Yahoo US$1 billion in cash, all assets of Yahoo China and US$1-billion investment to Alibaba (Alibaba-Group, History and Milestones, 2005). Meanwhile, Ma became the chairman of the board in Yahoo China. In November 2007, Alibaba Network Co. Ltd. listed on the main board of the Hong Kong Stock Exchange (Alibaba-Group, History and Milestones, 2007) and it delisted in 20th June 2012 (Alibaba-Group, History and Milestones, 2012). In 2008, Taobao Mall (known as ‘Tmail’ now) was established and the research institute was
It is apparent that, the dramatic growth of Internet creates a great number of powerful companies and billionaires. To a great extent, Ma Yun is a legendary one of them in China, because of the significant growth of his company, Alibaba Group. Alibaba was founded in Hangzhou in 1999 (Alibaba-Group, 1999) and it is one of the largest platforms for online trade and business communication now. Alibaba is based on online platform and started in e-commerce B-to-B (Business to Business) model but it is Alibaba is no longer limited to B2B model only. Alibaba seems to be an Internet e-commerce company. However, actually, it is a series of large platforms, which are based on the Internet. These platforms include B-to-B, B-to-C (Business …show more content…
The first website of the company was an English global wholesale market website. Alibaba also launched China trading market, which called ‘1688’ now. Then, Alibaba financing 25 million US dollars in total from Softbank and other international investment institutions in October 1999 and January 2000 (Alibaba-Group, History and Milestones, 2000). In May 10, 2003, Ma founded Taobao, which become one of the most prevalent products, and began to grab market share from eBay in C-to-C market. In addition, he created another famous product, Alipay, which is a third-party payment platform in the end of 2004. In 17th August 2005, Yahoo obtain 40% of Alipay shares and 35% of its voting rights. It costed Yahoo US$1 billion in cash, all assets of Yahoo China and US$1-billion investment to Alibaba (Alibaba-Group, History and Milestones, 2005). Meanwhile, Ma became the chairman of the board in Yahoo China. In November 2007, Alibaba Network Co. Ltd. listed on the main board of the Hong Kong Stock Exchange (Alibaba-Group, History and Milestones, 2007) and it delisted in 20th June 2012 (Alibaba-Group, History and Milestones, 2012). In 2008, Taobao Mall (known as ‘Tmail’ now) was established and the research institute was