This will take approximately 5mins to read. All views expressed here are my own.
The genie is out of the bottle
Before arriving in Shanghai I listened to Dr Edward Tse book China’s Disruptors: How Alibaba, Xiaomi, Tencent, and other companies are changing the rules of business. It’s an insightful expose into legacy of business in China and the rise of entrepreneurship. Chapter 3 details Jack Ma’s rising ambitions and where the inception of Alibaba all began. Alibaba Group is in a realm of it’s own sales through their sites Alibaba.com (B2B online trading platform for more than 240 countries), Taobao (C2C), Tmall.com (B2C), Aliexpress (B2C Global) account for “80% of the country’s total e-commerce business and are worth more than Amazon and e-bay combined”. In 2013 profits are nearly double than Facebook at 2.85B. On the Nov 11, known as singles day, online sales were 9.3B worth of transactions 3x sales conducted on Cyber monday in the United States. How has this transpired? Insurmountable belief in the impossible that proved pivotal turning point that tested the business in 2004 and has taken it to the trajectory we see today.
“It’s not whether you get knocked down, it’s whether you get back up”
Vincent Lombardi
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