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 in 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 through Liu Shiying and Martha Avery tells the amazing tale at the back of the web phenomenon Alibaba.com and its founder Jack Ma, a guy Barron's named one of many World's best 30 CEOs in 2008. Ma's upward thrust to prominence provides a riveting tale: regardless of turning out to be up in China through the Cultural Revolution—in a interval of overall kingdom 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 outdoors the standard executive channels. those instincts and behavior integrated martial arts education and allowed him to acknowledge, early on, that the web may possibly leverage his corporation to fast progress and likewise remodel the best way company is finished worldwide.
Alibaba.com, the place companies should buy and promote every little thing from air beds to zippers, began with a modest preliminary funding of $60,000 and has grown exponentially considering the fact that its founding in 1999 to turn into the world's largest business-to-business website. In 2007 it grew to become the second one greatest IPO in background (after Google), and Fast Company has named it one of many world's such a lot cutting edge businesses. for that reason, clever traders and expertise insiders might be maintaining a detailed eye on Alibaba for years yet to come. even if you're trying to comprehend China's meteoric upward thrust, or simply trying to find the subsequent Google, Yahoo!, or Amazon, Alibaba is essential examining.
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Additional resources for alibaba: The Inside Story Behind Jack Ma and the Creation of the World's Biggest Online Marketplace
He mentally sketched out a global business-tobusiness (B2B) e-commerce model and began work. In China, full-function connection to the Internet started in 1994. Professor Qian Hualin at the Academy of Sciences in Beijing had spearheaded this effort and presided over the establishment of the Chinese domain name system. But that was in Beijing, at the heart of the scientiﬁc establishment and governmental 24 support. Ma lived in Hangzhou, far from the technology centers of Beijing and Shanghai. As an outsider, he was a particularly precocious innovator in China’s Internet businesses.
His company allowed people to peruse news on the Internet. Chen later developed Shanda Interactive Entertainment and by 2005 was regarded as one of the ten richest men in China. He owed this transient reputation in part to the listing of his interactive online gaming company on the Nasdaq exchange. Ma looked on all these developments with great interest, then Darkest Before Dawn 31 decided to enter the major leagues by taking his company to Beijing. Shanghai had opened a dedicated line for the Internet in July 1995.
This was at the end of 1995. It was rumored that members of an institute had put the kibosh on the initiative, advising the government that the prospects for the Internet were not good, and the technology was in any event too advanced for conditions in China. So much for the Internet. Ma felt this was nonsense. Furious, not least because of the time and money he had put into his efforts, he asked some of the journalists what could be done. This now became his goal. Getting the People’s Daily on the Internet Ma went from exhilaration to despair to steely determination.
alibaba: The Inside Story Behind Jack Ma and the Creation of the World's Biggest Online Marketplace by Liu Shiying, Martha Avery