Alibaba: The House That Jack Ma Built pdfdrive com

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(“a tiny bit of loan”).
43
. Meaning “quickly hail a cab.”
44
. Meaning “beep beep, hail a cab.”
45
. Uber was next to step up to the subsidy plate, shelling out an estimated $1
billion in China in 2015 to win over drivers and customers, aided by a $1.2
billion fund-raising exercise.
46
. Some foreign observers make the mistake of believing that “Shanghai is
New York City and Beijing is Washington, D.C.,” but this vastly
understates Beijing’s importance as a business hub—and understates the
fact that local government in Shanghai is much more of a force in local
business than in Beijing.
47
. Even recruiting talent from Shanghai for Alibaba’s Hangzhou headquarters
can be a challenge, as the office lies some distance from the city’s train
station. To attract and retain Shanghai-based talent, Alibaba offers special
buses to and from Shanghai each weekend to ferry employees, who stay in
Hangzhou only four nights a week.
48
. Describes the twin-pronged strategy comprising the “Silk Road Economic
Belt,” a series of land routes from China across central Asia to the Middle
East, Africa, and Europe, complemented by “The Twenty-First-Century
Maritime Silk Road” to reinforce existing sea trade routes.
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. General partner.
50
. Yunfeng’s name in English translates as “cloud and the cutting edge of a
sword.” The combination of Jack’s first name “Yun” and David Yu’s given
name “Feng.”
51
. Yu first rose to prominence with the sale of his display advertising company
Target Media to rival Focus Media in 2006.
52
. Other partners include Shen Guojun from Intime Investment, Shi Yuzhu
from gaming company Giant Interactive, Liu Yonghao of New Hope
Group, Wang Yusuo from ENN Group, Jason Jiang from Focus Media, Xu
Hang from Shenzhen Mindray Medical, Chen Yihong from China
Dongxiang Group, Zhou Xin from e-House, Wang Jianguo from Five Star,
Zhou Shaoxiong from Septwolves, Wang Xuning from Joyong Holdings,
and Zhang Youcai from Unifront Holdings.
53
. One example is the September 2015 announcement that Alibaba had

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established Alibaba Sports Group along with Yunfeng Capital and Sina (the
parent of Sina Weibo, in which Alibaba is an investor) in an effort to
“reshape China’s sports industry through the Internet.”
54
. Cofounder David Yu, for example, also serves on the board of Alibaba-
invested Huayi Brothers Media Group. His mother, Wang Yulian, is also a