【2016 Archives】
Alibaba founder Jack Ma rarely appeared in an internal memo urging the e-commerce giant to “change016 Archivesreform” after rival PDD nearly closed in on Alibaba’s market capitalization with a stronger earnings report. Ma congratulated eight-year-old PDD for its decision-making, execution, and efforts over the past few years, while calling on Alibaba employees to return to the company’s mission and vision to reform for securing “tomorrow and the day after’s glory.” Taobao and Tmall Group, despite operating as the most profitable business within Alibaba, are being challenged by emerging e-commerce participants, including PDD and ByteDance’s Douyin. Ma also said he believed the era of AI e-commerce has just begun, which poses both an opportunity and a challenge. This statement aligns with Alibaba’s primary strategic focuses, previously disclosed by the new Alibaba CEO Eddie Wu, which prioritize being “user first” and “AI-driven.” [36Kr, in Chinese]
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