Jack Ma's reign is gradually ending
In 2023, the People's Bank of China approved the restructuring plan of Alipay, the mobile payment application of Ant Group, which is part of Alibaba. This move ended the reign of Jack Ma, the founder of Alibaba, as his voting rights decreased from 53.46% to 6.21%.
Analysts think that the chaos inside Alibaba and the loss of a lawsuit filed by rival JD.com are indications that the company is losing its leading position. The group is struggling in a cycle of restructuring, while its e-commerce segment has not met expectations in the Western market.
Experts say that the company has lost the battle against its competitors and is moving away from its core values. Some employees have reported that the company has fallen into an internal power struggle between former CEO Daniel Zhang Yong and current CEO Eddie Yongming Wu.
The group's shares have fallen 75% from their peak three years ago, and low employee morale and company turmoil are also contributing to Alibaba's decline. Jack Ma's call to bring Alibaba back to a leading position is focusing on preparing for the era of "AI e-commerce."
However, this concept is still a vague term, and Alibaba is facing a series of problems related to its operating model and company orientation, in addition to competition from emerging competitors.
Although he announced that he was giving up all roles at the corporation, Jack Ma is still the "spiritual leader" of Alibaba. However, the management agency's regulations do not allow him to get too deeply involved in the group's operations. During a meeting with Alibaba executives in May 2023, he expressed concern that the group could follow in Nokia's footsteps, calling on the company to refocus on the Taobao and e-commerce platforms. consumers to survive in the context of economic recession and fierce competition.
Analysts think that the chaos inside Alibaba and the loss of a lawsuit filed by rival JD.com are indications that the company is losing its leading position. The group is struggling in a cycle of restructuring, while its e-commerce segment has not met expectations in the Western market.
Experts say that the company has lost the battle against its competitors and is moving away from its core values. Some employees have reported that the company has fallen into an internal power struggle between former CEO Daniel Zhang Yong and current CEO Eddie Yongming Wu.
The group's shares have fallen 75% from their peak three years ago, and low employee morale and company turmoil are also contributing to Alibaba's decline. Jack Ma's call to bring Alibaba back to a leading position is focusing on preparing for the era of "AI e-commerce."
However, this concept is still a vague term, and Alibaba is facing a series of problems related to its operating model and company orientation, in addition to competition from emerging competitors.
Although he announced that he was giving up all roles at the corporation, Jack Ma is still the "spiritual leader" of Alibaba. However, the management agency's regulations do not allow him to get too deeply involved in the group's operations. During a meeting with Alibaba executives in May 2023, he expressed concern that the group could follow in Nokia's footsteps, calling on the company to refocus on the Taobao and e-commerce platforms. consumers to survive in the context of economic recession and fierce competition.
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