Boasts Jack Ma has fulfilled
- By Chen Boyuan
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E-mail China.org.cn, September 19, 2014
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Jack Ma, founder and chairman of Alibaba Group. [File photo] |
4. "Our B2B will revolutionize the online service mode."
In February 1999, Ma Yun, sitting in his lakeside home with his wife, friends, colleagues and students, said: "From now on, we will be doing a great thing. Our B2B will bring a revolution to the online service mode."
Ma made such a remark at a time when industry insiders deemed B2B mode was "too simple with no clear profitability pattern". Jin Jianhang, who was filming the gathering, later became president of Alibaba. He said: "No one was confident like Jack."
Eight years later, in November 2007, Alibaba's B2B service went public in Hong Kong, amassing US$1.5 billion instantly. The company's value exceeded more than HK$200 billion on the day of its Hong Kong IPO, immediately making Alibaba the largest Chinese Internet company.
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