Alibaba

Alibaba

The House That Jack Ma Built

Book - 2016
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An engrossing, insider's account of how a teacher built one of the world's most valuable companies--rivaling Walmart & Amazon--and forever reshaped the global economy.

In just a decade and half Jack Ma, a man from modest beginnings who started out as an English teacher, founded and built Alibaba into one of the world's largest companies, an e-commerce empire on which hundreds of millions of Chinese consumers depend. Alibaba's $25 billion IPO in 2014 was the largest global IPO ever. A Rockefeller of his age who is courted by CEOs and Presidents around the world, Jack is an icon for China's booming private sector and the gatekeeper to hundreds of millions of middle class consumers.

Duncan Clark first met Jack in 1999 in the small apartment where Jack founded Alibaba. Granted unprecedented access to a wealth of new material including exclusive interviews, Clark draws on his own experience as an early advisor to Alibaba and two decades in China chronicling the Internet's impact on the country to create an authoritative, compelling narrative account of Alibaba's rise.

How did Jack overcome his humble origins and early failures to achieve massive success with Alibaba? How did he outsmart rival entrepreneurs from China and Silicon Valley? Can Alibaba maintain its 80% market share? As it forges ahead into finance and entertainment, are there limits to Alibaba's ambitions? How does the Chinese government view its rise? Will Alibaba expand further overseas, including in the U.S.'

Clark tells Alibaba's tale in the context of China's momentous economic and social changes, illuminating an unlikely corporate titan as never before.

Publisher: New York, NY : Ecco, [2016]
Edition: First edition
ISBN: 9780062413406
0062413406
Branch Call Number: 381.1420951
Characteristics: xvi, 287 pages : illustrations, maps ; 24 cm

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meg09
Jan 06, 2017

Loose summary of main points captured in the book
Lifestory of Jack Ma. Born in a poor family - learnt english by talking to tourists in hangzhou - further improved by writing letters to Ken Morley in Australia whom he befriended in one of his visits to China - became lecturer in English & international trade - started his Haibo translation agency (word of mouth publicity through his ex-students) - asked for help by Tonglu county government for communication with American company who was planning to invest in highway in China - his visit to America & came to know about America - 2nd venture China Pages (online yellow pages for Chinese companies) - general manager of Infoshare technology (dept of MOFTEC) where he got opportunity to interact with Jerry Yang (Yahoo founder) - 3rd time he was successful when he found Alibaba (1999) - meeting with Joe Tsai who would play an important role in the company - Goldman invests valuing the company at $7 millions - Softbank invested later on $20 mn - Masayoshi Son highly impressed - Shao Yibo found Eachnet after graduating from Harvard and it was later 33% acquired by ebay - Taobao launched (C2C business) - eBay aligned the site like its US operations and later China site was migrated and integrated into global site - ebay lost China - Yahoo's billion dollar bet (40% stake at valuation of $4 bn) - Rise of companies such as Tencent, Baidu discussed - Alibaba IPO in Hong Kong - Alipay launched (Paypal equivalent) - cloud computing subsidiary Aliyun - IPO on NYSE, selling 12% stake and raised $25 bn largest IPO in history - fighting over fakes - yunfeng, PE firm in which Jack holds 40% stake - invested in many companies alongwith Tencent its rival - investment in media & entertainment companies.

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writermala
Jun 29, 2016

A full account of Jack Ma's rise to the internet mogul that ALibaba has made him.

The book was well-written but lacked humpor. I found it tough reading.

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