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 at the back of the fellow who created it.
A bestseller in China and now translated into English and up to date with fresh occasions, Alibaba via Liu Shiying and Martha Avery tells the extraordinary tale in the back of the web phenomenon Alibaba.com and its founder Jack Ma, a guy Barron's named one of many World's most sensible 30 CEOs in 2008. Ma's upward push to prominence provides a riveting tale: regardless of becoming up in China throughout the Cultural Revolution—in a interval of overall nation keep an eye on of the economy—he constructed the prepared entrepreneurial instincts that propelled him to billionaire prestige and enabled him to construct a firm open air the standard executive channels. those instincts and behavior included martial arts education and allowed him to acknowledge, early on, that the web may possibly leverage his corporation to speedy development and in addition rework the way in which enterprise is finished world wide.
Alibaba.com, the place companies should buy and promote every little thing from air beds to zippers, begun with a modest preliminary funding of $60,000 and has grown exponentially given that its founding in 1999 to develop into the world's greatest business-to-business site. In 2007 it grew to become the second one greatest IPO in heritage (after Google), and Fast Company has named it one of many world's so much cutting edge businesses. for this reason, clever traders and know-how insiders might be preserving a detailed eye on Alibaba for years yet to come. no matter if you're trying to comprehend China's meteoric upward thrust, or simply trying to find the subsequent Google, Yahoo!, or Amazon, Alibaba is important interpreting.
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Additional resources for alibaba: The Inside Story Behind Jack Ma and the Creation of the World's Biggest Online Marketplace
Neighbors probably thought the hours of these young people somewhat strange, but they waited and watched to see what the result might be. In March 1999, the Alibaba Web site was ofﬁcially released. “When the naming is right,” as the Chinese saying goes, “words ﬂow properly. ” Authors and journalists alike know that is half the battle, and Jack Ma showed considerable foresight in naming his company Alibaba. He knew that the company would eventually be international, and that it should have a name that was resonant in all languages and could be understood over the world.
There was no sign on the door, no indication of any activity. All was simple and unpretentious and anonymous, as Jack Ma wanted it to be. ” In addition, Ma stuck to his earliest principles, which were formed through an understanding, to the point of infatuation, with what is known in Chinese martial arts novels as “rivers and lakes,” the mythical equivalent of Robin Hood’s Sherwood Forest. It is interesting to note how similar the legendary heroes were: Robin Hood and his Merry Men are said to have lived in the thirteenth century, and many of the stories of Ma’s favorite book, Outlaws of the Marsh, date from the twelfth and thirteenth centuries.
We’d tell everyone, ‘There is this thing, you see,’ and then we’d try to describe it, this and that. Later I came to understand that old saying about how a rabbit eats the grass nearest his burrow ﬁrst. At the beginning, therefore, I put up information for friends. They knew my credibility over the years was pretty good. Eventually they would agree to come on board with some payment. The very ﬁrst to agree was the Lakeview Hotel in Hangzhou, a four-star hotel. ” Without direct access to the Internet, Ma used his contacts in America to do the uploading.