How Jack Ma runs Alibaba
When Alibaba goes public later this month, investors will have little doubt about who is in control of the company
At the resplendent China World Hotel in Beijing, scores of cameras snapped as colourful confetti floated down from the ceiling. It was 11 August 2005, and this was the global coming-out party for Alibaba, the Chinese e-commerce upstart. After months of frantic negotiations, US Internet giant Yahoo Inc. had agreed to invest $1 billion in cash and create deeper business ties, in exchange for a 40% stake in Alibaba.