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‘We hacked away at the big-company disease,’ so reform is the only way out, according to Ma’s memo to Alibaba employees. ‘We turned the company from a cumbersome organisation into one that is simple and agile, where efficiency comes first, and the market comes first,’ Ma wrote.
There is nothing to fear from missteps because nobody is error-free, Ma wrote, after his co-founder Joe Tsai touched on Alibaba’s mistakes in a podcast interview, generating a frenzy on China’s social media.
Alibaba Group Holding Limited (NYSE: BABA) stock is trading higher Tuesday amid reports of China approving 105 domestic games following recent industry restrictions that caused an $80 billion market downturn. The approved titles included games from top publishers Tencent Holdings Ltd (OTC: TCEHY) and NetEase Inc (NASDAQ: NTES), indicating a potential easing pressure on these companies, Bloomberg reports. However, concerns intensified last Friday when the National Press and Publication Administra
Alibaba Group Holding Limited (NYSE: BABA) stock is trading higher Tuesday amid reports of China approving 105 domestic games following
Alibaba has promoted a younger cohort to lead key Taobao and Tmall operations after the conglomerate’s CEO Eddie Wu took direct control of the e-commerce unit.