Tag: jack ma

Alibaba – A Platform Where Global Trade Starts And Ends

The content in this post has been approved by Alibaba.

Trust issues are common. People often face challenges with e-commerce companies. But the question is, are the suppliers verified? People usually worry about prices too. But with Alibaba, this is not an issue. Everything available here is at factory prices and all the sellers are verified.

Alibaba Group is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, Internet, and technology. Founded in 1999 by Jack Ma, the company operates in various business segments, including wholesale and retail online marketplaces, such as Taobao and Tmall, as well as online and mobile payment systems, shopping search engines, and cloud computing services.

It is also involved in the production of electronic components, as well as in the research and development of artificial intelligence and other technology. Alibaba is considered one of the largest e-commerce companies in the world and is often compared to Amazon. It is also one of the world’s largest venture capital firms and investment corporations. Here is the Alibaba success story.

Company Highlights

Company Name	Alibaba
Headquarters	Hangzhou, China
Founders	Jack Ma, Joseph C. Tsai, Cathy Zhang, Trudy Dai, Peng Lei, Simon Xie, Jin Yuanying, Jianhang Jin, Jane Jiang, Eddie Wu, Ma Changwei, Tony Yiu, Zhou Yuehong, Shi Yufeng, James Sheng, Lou Wensheng, Han Min and Toto Sun
Founded	4 April 1999
Valuation	$310.41 Bn (Jan 2023)
Website	alibaba.com

Alibaba – About
Alibaba – Founders and Team
Alibaba – Startup Story
Alibaba – Business Model
Alibaba – Revenue Model
Alibaba – Tagline, Slogan, and Logo
Alibaba – Funding and Investors
Alibaba – Growth
Alibaba – Competitors
Alibaba – Future Plans

Alibaba – About

Alibaba Group Holding Limited is also known as Alibaba Group. This is a Chinese multinational technology company. It is the world’s largest e-commerce company. The company has already made a record on the 2018 edition of China’s Single’s Day.

Alibaba – Founders and Team

Jack Ma, Joseph C. Tsai, Cathy Zhang, Trudy Dai, Peng Lei, Simon Xie, Jin Yuanying, Jianhang Jin, Jane Jiang, Ma Changwei, Eddie Wu, Toto Sun, Shi Yufeng, Zhou Yuehong, Lou Wensheng, Han Min and Tony Yiu are the founders of the company Alibaba.

Jack Ma is the founder and also the former executive chairman of Alibaba group. He is a Chinese business magnate, philanthropist, and investor.
Joseph C. Tsai is also the founder of the Alibaba group. He is a Taiwanese-born Canadian billionaire businessman and philanthropist.
Cathy Zhang is the founder of the company. She is Jack Ma’s wife and is a former Chinese teacher.
Trudy Dai is a member of the founding team. She did join the company from the beginning itself. Since January 2017 she has been the president of wholesale marketplaces.
Peng Lei is one of the founders of the company. She is also known as Lucy Peng. She is a Chinese billionaire businesswoman.
Simon Xie is also a founder of Alibaba group. Before joining Alibaba group he completed his engineering degree from Shenyang University.
Jin Yuanying is another founder of Alibaba Group and Taobao. She has been responsible for both the companies mentioned above.
Jianhang Jin joined the Alibaba group in the beginning as a founding member. He has been the President of the company since August 2014.
Jane Jiang is a founding member of the company. Currently, Jane Jiang is the Deputy CPO of the company.
Eddie Wu is one of the founders of the company. Eddie Wu is the Senior Vice President. Eddie Wu handles three business units of the company.
Ma Changwei is also a founder of the company. Ma Changwei is an investor and director at Taobao Product Technology Center.
Tony Yiu is one of the founders of the company. In the International Business Unit, he was responsible for IDC operation and maintenance.
Zhou Yuehong is also a founder of the company. He studied at Hangzhou Dianzi University.
Shi Yufeng is the co-founder of Taobao. He is one of the original founders of the Alibaba group.
James Sheng is the founder of the company. James Sheng is the senior vice president of the company.
Lou Wensheng is again one of the original founders of the company. In the beginning, he was responsible for the planning of the official website.
Han Min is also a founder of the company. He is a former South Korean Minister of Defense.
Toto Sun is also an original member of the company.

Jack Ma - Founder of Alibaba — Jack Ma – Founder of Alibaba

Alibaba – Startup Story

Jack Ma started the Alibaba group with other 17 original founders. Back in 1999, he started a wholesale online marketplace called Alibaba. The Chinese company blossomed into one of the most valuable corporations in the world. Now the world knows Alibaba. When Alibaba started, in India there was nothing in this sector. The dawn of the 21st century appeared to be lucky for Alibaba. It was growing as well as investing. It benefited from strict internet-controlling policies. The story seems like Alibaba grew into a global e-commerce giant from a small apartment.

Alibaba – Business Model

The company acts as a middleman between buyers and sellers online. It facilitates the sale of goods. The majority of sellers are small merchants. Alibaba caters to almost all well-known big brands. Customer experience is a big issue for the company. Sellers cannot deliver goods that are sold. The company charges the merchant’s a fee to have their listings higher on the search rankings. The company has dominated the shopping space in China but doesn’t have a physical store anywhere.

Alibaba – Revenue Model

Alibaba’s revenue is derived from retail e-commerce and associated market services in China. The company collected a revenue of $134.567 billion in 2022, a 22.91% increase from 2021. It charges commissions as a percentage of the transaction value of goods sold. China Wholesale and Other Revenues are expected to be about 12% of the total revenues. Chinese consumption drives wholesale commerce and logistics service revenues.

Alibaba – Tagline, Slogan, and Logo

The tagline of the first Alibaba job advertisement was If not me, who? It’s not a question but a call of duty. The proverb shows a sense of ownership here.

The Alibaba logo has got two typefaces. It’s the face of a satisfied customer. The person inside is smiling.

Alibaba Logo

Alibaba – Funding and Investors

The company had raised an amount of $8.9 billion over 16 funding rounds.

Date	Transaction Name	Money Raised	Lead Investors
June 2, 2016	Post-IPO Equity	$1 Bn	–
March 10, 2016	Post-IPO Debt	$3 Bn	–
August 1, 2014	Venture Round	–	–
April 1, 2014	Secondary Market	$100 Mn	–
October 9, 2013	Secondary Market	–	–
October 1, 2013	Secondary Market	–	–
March 4, 2013	Secondary Market	–	–
September 1, 2012	Private Equity Round	$2 Bn	China Investment Corporation
September 22, 2011	Private Equity Round	$1.6 Bn	DST Global, Silver Lake
September 13, 2011	Secondary Market	–	–

Alibaba is funded by 32 investors. GIC and Temasek Holdings are the recent investors.

Alibaba – Growth

The company has positioned itself as the gateway to Chinese consumers. The company continues to grow. It had over 903 million users in Q1 2022 and the number is growing.

Alibaba’s Annual Active Consumers in China from 2017 to 2022

Alibaba – Competitors

The main competitors of the company are Amazon, Tencent, Huawei, and China Mobile.

Amazon is a technology company. It focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence.
Tencent is also a Chinese multinational company. It specializes in Internet-related services and products, artificial intelligence, and technology.
Huawei is a leading platform that provides information and communications technology.
China Mobile is a company that provides mobile voice and multimedia services. Through its nationwide mobile telecommunications network across mainland China and Hong Kong.

Alibaba – Future Plans

The company is aiming towards reaching 2 billion global consumers by fiscal 2036. The company is also looking forward to creating more than 100 million jobs. And also support small and medium businesses.

FAQs

What is Alibaba?

Alibaba Group is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, Internet, and technology.

Is Alibaba bigger than Amazon?

Alibaba ranks second with a market cap of over $304.1 billion, whereas Amazon ($1 trillion market cap) ranks first among the leading large-cap e-commerce companies worldwide.

When was Alibaba founded?

Alibaba was founded in 1999 by 18 people.

What is the Indian version of Alibaba?

TradeIndia is an Indian version of Alibaba.

Is Alibaba banned in India?

Yes, the Alibaba marketplace has been banned in India with the ban of Chinese apps in the country.

March 1, 2023

Paytm Interesting Facts You Never Knew

Paytm is the biggest E-commerce company in India which specializes in the digital transactions system. Paytm is trusted and used by millions of Indians for shopping, transferring cash, booking tickets, and paying day-to-day bills.
How did Paytm get here? The journey was not an easy one!

Here are the top 10 interesting facts about Paytm.

Founding of Paytm
The idea of Paytm
Paytm is an acronym for Payment Through Mobile
One97 Communications is the parent company of Paytm
PayPal filed a case against Paytm in 2016
Paytm is available in 11 Indian languages
Paytm wallet application counts to 100 Million downloads
Jack Ma Purchased Stakes in Paytm
Paytm contributed to PM cares fund during COVID-19 pandemic
Ratan Tata has invested in Paytm.
Paytm Mall
FAQs

Facts about Paytm account

Founding of Paytm

Paytm Founder- Vijay Shekhar Sharma

Paytm was founded by Vijay Shekhar Sharma with an initial investment of $2 million in 2010. It has its headquarters at Noida.

The idea of Paytm

Vijay Shekhar got the idea to build Paytm during his visit to China when he saw vegetable vendors using their cell phones to accept payments from some buyers.
This prompted him to set up a Paytm wallet in 2013.
Paytm is the most secure application. Paytm gives App secret word to your Paytm wallet and uses QR codes to complete transactions.

Facts about Paytm Owners and shares of Paytm

Paytm is an acronym for “Payment Through Mobile”

Paytm attracted a large crowd for the ease of online recharges, wallets, and shopping experiences. It also offered cashback and free movie tickets to its users.

One97 Communications is the parent company of Paytm

In 2005, Vijay Shekhar Sharma began One97 Communications that offered portable content like news, cricket scores, ringtones, jokes, and test results.
One97 is the parent organization of Paytm, which was launched in 2010.

PayPal filed a case against Paytm in 2016

PayPal filed a case against Paytm in 2016 on the grounds of using similar blends of colors in its logo. Paypal claimed Paytm had stolen from its logo and created a logo that was “blatantly and strikingly similar” to its own logo.
The two-toned blue color scheme was a resemblance to the Paypal logo.
Paypal objected that Paytm wanted to gain an advantage over its opponent and ruin its reputation!

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Paytm is available in 11 Indian languages

The default language selected for Paytm is english. However, Paytm is avaliable in 10 different Indian languages. Some of these include Hindi, Tamil, Telugu, Gujarati, Marathi, Bengali, Kannada, Malayalam, Oriya, and Punjabi.
Paytm has reached almost 88% of Indian villages and most of the users are based in Tier 2 and Tier 3 cities.
Paytm says that many Indians have still no access no internet even today and hence, they are taking a step towards “Digital India”

Paytm wallet application counts to 100 Million downloads

Paytm wallets applications has 100 Million downloads on Google play store. There are over 350 million Paytm users.

Jack Ma Purchased Stakes in Paytm

In 2015, Chinese money manager Jack Ma, proprietor of Alibaba Group, purchased a $500 million stake in Paytm. Jack Ma is assessed to hold 30 to 40 percent of Paytm. Alibaba holds a share of 25% of Paytm. Alibaba presently gives help to Paytm to further develop extortion detection and satisfaction systems also.

Paytm contributed to PM cares fund during COVID-19 pandemic

Paytm has great contribution during Covid 19 pandemic. It has contributed to PM CARES relief fund. Each Rs 10 received via a single user was donated to the PM cares fund via the Paytm app. In 10 days, Paytm had collected Rs 100 crore Via Paytm, 21000 oxygen cans were shipped to patients in need, and oxygen plants were donated to 13 of the worst-hit cities in India.

Ratan Tata has invested in Paytm

Paytm belongs to one of the few companies which have received personal investment by renowned Indian tycoon Ratan Tata.
$100-billion worth Tata Group CEO has invested in Paytm, which is looking to directly compete with online retailers like Flipkart, Amazon, and Snapdeal.
This will help in boosting the country’s digital economy.

Paytm Mall

Paytm mall logo

Paytm launched Paytm Mall in 2017 which permits customers to shop from 1.4 lakh enlisted sellers. It is a BTC model inspired by China’s TMall.
Paytm Mall has set up 17 content communities across India and collaborated with in excess of 40 messengers.
Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in March 2018.
Paytm Mall suffered a loss of around ₹1,800 crores and its market share dropped from 5.6% to 3%.

FAQs

When was Paytm founded?

Paytm was founded by Vijay Shekar Sharma in 2009.

Who is the owner of Paytm?

Paytm parent organisation One97 Communications owns the company.

Is Paytm owned by Tata?

No. Ratan Tata has invested in Paytm in March 2015. He picked up a stake in Paytm parent company, One97 Communications. He also plays a role of an advisor for the company.

August 15, 2021
Hupan University – An Elite Business School founded by Jack Ma

Elite Business Schools have been famous for over a lot of years. Some of the major elite business schools are Harvard, Stanford, Colombia Business school, etc. Jack Ma, the founder of the popular e-commerce site Alibaba has also founded one of the elite business schools, Hupan University. Hupan University has announced that Jack Ma is stepping down as the president. Let’s look into more information about the Elite Business School founded by Jack Ma.

Hupan University – Latest News
Admission requirements for Hupan University
The curricular and Students at Hupan University
Changes after stepping down to Hupan University of Jack Ma
FAQ

Hupan University – Latest News

Jack Ma has announced that he will step down from the elite business school he had founded back in 2015. This is because of the crackdown on the influence of the billionaire in the Chinese society. The retreat from the academy is because the regulators of China have increased the pressure on Jack Ma.

Jack Ma had disappeared from public view from the day he had given a public speech against the Chinese regulators during the month of October. He had criticized the Chinese regulators and the state-owned banks.

Admission requirements for Hupan University

Hupan University which provides an executive training programme for entrepreneurs is claimed to be as hard to get into the university like Harvard or Stanford University. It was founded by Jack Ma in the year 2015 along with nine business executives.

The admission requirements of the university are very strict and accept only the candidates who have 3 years of experience in running their own business, employing at least 30 people, and have an annual revenue of around USD 4.5 million. They should also obtain 3 recommendations at least one of them which should be chosen by the university.

Aerial view of Hupan University

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The curricular and Students at Hupan University

In the past 5 years, the university has admitted around 254 entrepreneurs and a total of 11,788 applicants have been admitted to the school. Together they employ over 1 million people and the average age of the admitted members is around 38 years and have been doing the business for the past 11 years.

So far, the school has offered 271 classes out of which most of the classes were undertaken by entrepreneurs of various traditional companies as well as internet companies. Unlike a traditional MBA school, Hupan University aims at inspiring the future entrepreneurs with a sense of social and moral responsibility.

Changes to Hupan University after Jack Ma Stepped down

As Jack Ma announced that he would step down from the Presidential position of Hupan University led to restructuring the educational programme of the university and has changed its name. Hupan had changed its name from its website and social media accounts to Hupan Innovation Center.

There were even videos released that showed workers removing the name from a large stone sign in front of the campus. The change of name was because only a licensed educational institution can mention its name as a university and Hupan is not an official university yet.

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Conclusion

However, a person close to the business school has conveyed that Jack Ma would not hold any high profile post in the institution but several people have mentioned that he would remain connected to the school giving lectures in the future.

FAQ

Where is Hupan University located?

Hupan University is an elite business school located in Yuhu Bay, Xihu Hangzhou, Zhejiang Province, China.

When was Hupan University founded?

Hupan University was founded in 2015 by Jack Ma with nine fellow business executives.

Why did Hupan University changed its name?

Hupan University changed its name to Hupan Innovation Center because only a licensed educational institution can mention its name as a university and Hupan is not an official university yet.

May 29, 2021
Why did Alibaba saw a loss for the first time in years?

Alibaba Group Holding Limited which is also known as Alibaba group is a Chinese based technology company. The company was founded in the year 1999 and has its headquarters located in Zhejiang. Alibaba group specializes in e-commerce, internet, technology and retail sectors. The company has recorded a loss for the first time ever, so let’s look at the reason behind it.

Results of Alibaba
Reason for the Loss
The shares of Alibaba
FAQ

Results of Alibaba

The top e-commerce platform of China Alibaba had recorded a loss of 7.66 billion yuan on 13 May 2021 for its first quarterly results. This is the first time the company has recorded a loss in its history after going public in the year 2014.

The company has recorded an annual revenue of 930 billion yuan for the year ending March 2022 which is more than what they had estimated that is 982.25 billion yuan.

There was an increase in the core commerce revenue of the company of around 72% which was amounted to 161.37 billion yuan in the fourth quarter. But the company’s cloud computing has seen a slow in its growth which had reduced by 58% to 37 % compared to the previous year to 16.8 billion yuan. This is considered to be the most weakest growth since the year 2016.

The overall revenue of the company has seen an increase with 187.4 billion yuan for the fourth quarter when compared to the Refinitiv forecast of 180.41 billion.

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Reason for the Loss

The main reason for the recorded loss by the company is considered to be the regulations bought in by the Chinese regulators. The regulatory crackdown in China had led to the suspension of one of the biggest IPO of the affiliate company of Alibaba Group, Ant group where the IPO was estimated to be USD 37 billion.

Other than that, the company was fined by the Chinese regulators on the basis of anti-competitive business practices with a fine of USD 2.8 billion. The fine had led to an operating loss in the fourth quarter of around 7.66 billion yuan.

The slow growth in the cloud computing sector is due to a top customer which had a huge presence outside of China in the cloud computing business of Alibaba. The company had conveyed that the customer had ended its business for non-product related reasons which led to the slower growth.

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The shares of Alibaba

The US listed shares of Alibaba group had seen a fall of around 3% in the choppy market even though there was an increase in the revenue of the company as the pandemic had forced people to depend more on the e-commerce solutions and would help the company recover easily from its losses.

It is seen that since the shares of Alibaba group had hit a record high in October, the US listed shares have fallen more than 30% as the founder Jack Ma had delivered a speech in Shanghai where he criticized the financial regulators of China.

Brock Silvers who is the Chief Investment Officer at the Hong-Kong based Adamas Asset Management has said that the fall in the share price of Alibaba reflects that there is anxiety amongst the investor community in regards to the regulation.

He added that the company has currently faced a huge regulatory risk, which has now become a threat to the entire technology sector.

Daniel Zhang who is the Chief Executive officer had conveyed in an earnings call that the penalty decision had motivated them to reflect on the relationship between the economy of the platform and society, as well as their commitments and their social responsibilities.

FAQ

Who owns Alibaba now?

SoftBank Group is the major shareholder of Alibaba.

Who is the current CEO of Alibaba?

Daniel Zhang is the current CEO of Alibaba.

Is Alibaba bigger than Amazon?

Amazon is vastly larger than Alibaba.

Conclusion

Alibaba group is one of the largest and successful e-commerce groups in China. As of 2020, the company has around 779 million active subscribers.

May 21, 2021
Why has Jack Ma not made any Public Appearance

Jack Ma is a Chinese based entrepreneur, philanthropist and investor. He is the co-founder of Alibaba Group. In the Great leaders’ list of Forbes’ World’s 50 Greatest Leaders, he was ranked 2nd. He is considered to be an influential figure for the community of startups. Jack Ma had not made any public appearance for a quite few months. Let’s look at the reason for it.

Disappearance of Jack Ma
Reason for the Disappearance
Jack Ma’s Last Appearance
FAQ

Disappearance of Jack Ma

Jack Ma had not made any public appearance since October 2020 and later made an appearance through an online video during the month of January 2021. His disappearance had created a fear about his whereabouts.

It was reported that Jack Ma was also missing from the final episode of his own talent show where he provides a chance for African entrepreneurs to compete for USD 1.5 million. The talent show is named as Africa’s Business Heroes.

In the month of January 2021, the disappearance of Jack Ma had made headlines in most of the newspapers.

Reason for the Disappearance

The disappearance of Jack Ma began when he criticized the regulatory system of China in the month of October claiming that it has a pawnshop mentality. He criticized the regulatory system saying that companies like AliPay were unsuitable for financial regulatory structure just like that of China’s.

This had happened days before Ant Group was looking forward to launching one of the world’s largest IPOs worth USD 37 billion on the Shanghai exchange and the Hong Kong Exchange. Following the criticism, the Chinese authorities had launched an anti-monopoly probe against the company and stopped its IPO application.

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Jack Ma’s Last Appearance

Jack Ma had appeared in an online conference where he addressed 100s of teachers. This conference was part of his annual event which Jack Ma hosts in order to recognize the efforts of the rural teachers.

State-affiliated media Global Times had shared a video and tweeted saying Jack Ma has not disappeared, here we go and added the statement that Jack Ma just had a video conference with 100 village teachers in the morning conveying that they would meet up once the Covid situations are better.

Qingqing Chen who is a senior reported added a follow up tweet which said that Jack Ma who used to be an English teacher gave wishes to the English teachers through a video. She added on saying that normally this activity would be held in Sanya in Southern Hainan but this year due to the ongoing pandemic it was done through a video conference.

There was another video that showed Jack Ma taking a tour in a primary school in his hometown of Hangzhou. He had informed the teachers that he would spend more time in Philanthropy.

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FAQ

When was Jack Ma last seen in public?

Jack Ma was last seen on Jan 20 during a live video chat with rural educators.

Is Jack Ma the richest man in China?

Jack Ma is no longer the richest person in china in 2021.

What does Jack Ma do?

Jack Ma is an Entrepreneur, Businessperson, Teacher and a Philanthropist.

Conclusion

Jack Ma’s exact whereabouts have not yet been identified by the Chinese authority. However, the anti-monopoly case against the company has been implemented even after the appearance of Jack Ma.

May 17, 2021
Why Alibaba might be Fined $1 Billion by China

Alibaba Group was founded on 28 June 1999. It is known as Alibaba Group Holding Limited and also as Alibaba.com. It is a multi-national company which is based in Zhejiang, China. Alibaba group specializes in e-commerce, technology, retail, and the internet.

Alibaba is one of the world’s largest e-commerce and retail companies. It was also rated as the fifth largest Artificial Intelligence company in the world in 2020. Jack Ma is the founder of the company. The company has around 117,000 employees as of 31 March 2020.

The company’s name was derived from the character Alibaba from the middle-eastern story, One thousand and one nights. The name signifies that the company is Universal.

The company is considered one of the 10 most valuable corporations. Alibaba group is named as the world’s 31st largest public limited company according to the Forbes 2000 2020 list. As of 2020, the company has the sixth-highest global brand valuation. The company owns and operates different organizations in different business sectors across the globe.

Alibaba group has been facing certain legal actions from the Chinese government. The company is being criticized and the company is asked to pay around $1 billion as a fine to the regulators. Let’s look at the reason behind it.

Reasons Why Alibaba might be Fined?
What Jack Ma said about Alibaba being fined?
Consequences of the Fine
FAQ

Reasons Why Alibaba might be Fined?

Alibaba Group has already faced legal actions in the past. Alibaba Group had forced their e-commerce sellers to pick any one platform. They have stopped their merchants to list themselves on other platforms which are against the rule of the Chinese Government.

Alibaba is said to have alleged the anti-competitive practices by the 2008 antimonopoly law. It is said that the company had acquired its competitors without getting approvals from the government. The company had declared themselves that the acquired companies were not their competitors.

In addition to this Alibaba group’s founder, Jack Ma’s business empire is being investigated by the Chinese Government as he had spoken against the Chinese regulatory system in October 2020.

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What Jack Ma said about Alibaba being fined?

Jack Ma said that good inventions will be able to exist with regulations but they wouldn’t exist with old-fashioned regulations. He gave an example saying that one cannot manage an airport the same way they manage a train station. He told that in the same way, we won’t be able to manage our future the way we manage the past. This was a statement made for the regulations laid down by the Chinese Government.

He also spoke about the financial system of China saying that they should develop and depend more on credit system development. He said that they should move away from the pawnshop mentality within the financial industry.

Annual revenue of Alibaba Group

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Consequences of the Fine

China’s state administration has asked Alibaba group to pay an amount of $1.3 billion. The fine was implied for breaking the 2008 anti-monopoly law. This is the maximum fine collected under the law.

The Alibaba Group was fined for investing an amount of $692 million in Intime during the year 2014 and for bidding an amount of $2.6 billion in 2017 for privatizing Intime.

This will be the highest fine ever paid by a corporate in the history of China. Alibaba group has also been asked to cancel its association with the company’s founder Jack Ma. The regulators have told that if they fail to disassociate with their founder the company will have to face actions.

They will have to pay the fine only if they don’t follow the rules of the Chinese government. Also do not end the policy where they force the merchants to sell only on their platform. The company is also been asked to withdraw its investments from some businesses. The regulators want the company to remove non-core businesses from its core retail operations.

Ant Financials which is a subsidiary of Alibaba group has been claimed as a risk for the Chinese Financial system. The company was asked to undergo certain changes which are said to affect their business model.

Alibaba Group had to temporarily stop the IPO plans of Ant financials due to the allegations. The authorities of Beijing stopped the IPO issue of Ant financials which was supposed to be for $37 billion.

FAQ

How much does Jack Ma earn per second?

Jack Ma earns $0.32 per second and $1,141.55 per hour.

What percent of Alibaba does Jack Ma own?

Jack Ma owns 8% of Alibaba group.

Who is the richest person in China?

Jack Ma is the richest person in China with a net worth of 48.2 billion as of July, 2020.

Conclusion

Mr. Ye Han, a partner at Beijing-based law firm Merits & Tree told that the message was clear. The companies are supposed to seek approvals from the government for such deals in the country. He is a person who has a specialization in anti-trust, mergers, and acquisitions.

Alibaba Group has said that they would actively corporate with the regulators regarding the case and their business operations would remain normal during that time.

The regulators took strict actions against the company after the founder Jack Ma’s speech during the Bund Summit in October. He spoke about the countries strict regulations and the over dominance over the banking industry. This has led the Chinese regulators to take strict actions against the company.

March 16, 2021