Chinese Entrepreneur in the Internet Age --Story of MaYun and Alibaba Introduction In network age‚ the pattern and rate of economic growth experience tremendous changes and starting from the US‚ internet entrepreneurs have become new aristocracies of the Wealth-Bulletin. However‚ commercial miracles of internet industry not only take place in Silicon Valley. And on the ancient east land‚ a young internet entrepreneur has written a new business legend with his vision‚ courage and leadership.
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1. What was Alibaba Group’s motivation for diversifying into the consumer business with the launch of Taobao? Does it make sense? Alibaba Group’s motivation for diversifying into the consumer business with the launch of Taobao was mainly because of the rise of eBay in China. Jack Ma‚ the founder of Alibaba‚ observed that the entry of eBay through EachNet‚ which held an 85% market share‚ was a threat to Alibaba. He was especially concerned that the rise of eBay would encroach their existing B2B
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Alipay is China’s leading third-party online payment platform. It was launched in China in 2004 by Alibaba Group which founded by Jack Ma. Alipay refers as a wallet for user’s digital life. It is a mobile or web app providing an easy and secure way for millions of individuals and businesses to make and receive payments on the Internet. Up until December 2014‚ Alipay had more than 300 million registered users and around 8 million transactions are made daily. Hence‚ Alipay is a key catalyst in the
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Taobao VS eBay in China eBay China eBay‚ as a global company with a global strategy that trades across many nations‚ regarded itself very much as an American company‚ founded in 1995. Under ’ pioneered online person to person trading ’‚ " a web-based community that bought buyers and sellers together " approaches ( Stockdale and Felstead‚ 2010) ‚ currently the company listing sites in 29 countries and defines the C2C model of e-business around world. eBay has became the dominant online trading
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Taobao Marketplace and Juhuasuan Launch Juhuasuan Overseas Group Shopping Platform in Hong Kong and Taiwan Apr 8 13 Taobao Marketplace and Juhuasuan announced the official launch of Juhuasuan Overseas platform to provide Hong Kong and Taiwan consumers with a dedicated comprehensive group shopping platform offering a wide range of high-quality merchandise and localized lifestyle services selected from Taobao sellers. Previously‚ products offered on Juhuasuan were often only accessible to mainland
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communist China was increasingly isolated from the West‚ and his family didn’t have much money when they were young. Ma was scrawny and often got into fights with classmates. "I was never afraid of opponents who were bigger than I‚" he recalls in "Alibaba‚" a book by Liu Shiying and Martha Avery. Still‚ Ma had hobbies just like any other kid. He liked collecting crickets and making them fight‚ and was able to distinguish the size and type of cricket just by the sound it made. After then-US president
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1. What was Alibaba Group’s motivation for diversifying into the consumer business with the launch of Taobao? Does it make sense? The motivation came from the fear of the rise of eBay in China. It invested US$30 million in EachNet in 2002‚ and at that time‚ EachNet commanded an 85% market share. Just in the following year‚ acquired the remaining 67% stake in EachNet‚ rebranding the site as eBay EachNet. EBay has very big ambition in Chinese market and it is another company that understood Chinese
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It provides low reference values for users. 3. Without effective control‚ Thousands of online advertisement increased causes the falsity of the advertising also increased. 4. The trading models of Taobao are easily being copied. For example‚ the Group buying nowadays in Hong Kong was originally started in Taobao. 5. Businesses might withdraw from Taobao and to have their own trading and shopping platform/ they will distribute their resources in different online trading platform when they expand
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e-finance has been dramatically increasing based on e-commerce. The Alibaba group can be regarded as the representative which is the one of the most successful e-finance and e-commerce organization in China. The e-finance division of Alibaba aims to build a Chinese e-finance territory according to external financial innovation based on internet platform‚ e-commerce platform and mobile network platform. In 2013‚ June 13th‚ Alibaba has launched Yu’E Bao which means “savings balance treasure”. It is
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Q1) What was Alibaba Group’s motivation for diversifying into the consumer business with the launch of Taobao? Does it make sense? Alibaba group felt that it was under threat from eBay as eBay had a large market share in C2C business. Alibaba felt that eBay may go into the B2B business which Alibaba is in‚ and their business may be under threat. Hence Alibaba decided to go into the C2C business with Taobao to compete with eBay for the fear of eating into Alibaba business. It made sense because
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