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NEW DELHI – Jack Ma, co-founder of Alibaba Group, emerged from his recent retreat from the public eye with an important memo to the company's employees. This rare call is seen as an endorsement for Alibaba Restructuring effortsThis sparked speculation about Ma's possible return to a more visible role guiding the community Tech giant. After a memorandum is issued, Alibaba shares In Hong Kong, it rose 5.5% in morning trading, recording the largest percentage increase for the stock in one day since February 6.
In his letter, Ma praised the leadership of CEO Eddie Wu and Chairman Joe Tsai. He pointed out that the company's decision to divide into six divisions a year ago enhanced its flexibility, focusing more on customer needs and accelerating decision-making processes.
According to the SCMP report, Ma emphasized Tsai's “remarkable courage and wisdom” and wrote: “We have made countless mistakes in the past 25 years, and we will continue to do so.” [continue to] Making mistakes for the next 77 years. Facing problems does not mean denying the past, but rather finding a responsible way towards the future.
Ma's hiatus from the spotlight began after his critical comments about Chinese regulatory authorities in October 2020, which led to Ant Group's anticipated initial public offering (IPO) being halted. In the wake of the incident, China's tech sector has faced tough regulatory scrutiny, during which Ma has chosen to be less visible.
In his latest post, Ma emphasized Alibaba's commitment to innovation, saying: “Our innovation has never been to outperform our opponents, but to catch up with the future.” He elaborated on the nature of innovation, highlighting it as a measure of adaptability rather than chasing trends, saying: “Innovation is not just about following a trend, it is a test of your true ability to survive.”
Ma's message to employees is clear: Alibaba must embrace change, focusing on improving the consumer experience in the face of an evolving technology landscape. The future of e-commerce, according to Ma, lies not in competing with its counterparts today, but in imagining and realizing the possibilities of tomorrow.
(With inputs from agencies)
In his letter, Ma praised the leadership of CEO Eddie Wu and Chairman Joe Tsai. He pointed out that the company's decision to divide into six divisions a year ago enhanced its flexibility, focusing more on customer needs and accelerating decision-making processes.
According to the SCMP report, Ma emphasized Tsai's “remarkable courage and wisdom” and wrote: “We have made countless mistakes in the past 25 years, and we will continue to do so.” [continue to] Making mistakes for the next 77 years. Facing problems does not mean denying the past, but rather finding a responsible way towards the future.
Ma's hiatus from the spotlight began after his critical comments about Chinese regulatory authorities in October 2020, which led to Ant Group's anticipated initial public offering (IPO) being halted. In the wake of the incident, China's tech sector has faced tough regulatory scrutiny, during which Ma has chosen to be less visible.
In his latest post, Ma emphasized Alibaba's commitment to innovation, saying: “Our innovation has never been to outperform our opponents, but to catch up with the future.” He elaborated on the nature of innovation, highlighting it as a measure of adaptability rather than chasing trends, saying: “Innovation is not just about following a trend, it is a test of your true ability to survive.”
Ma's message to employees is clear: Alibaba must embrace change, focusing on improving the consumer experience in the face of an evolving technology landscape. The future of e-commerce, according to Ma, lies not in competing with its counterparts today, but in imagining and realizing the possibilities of tomorrow.
(With inputs from agencies)
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