“We will recalibrate our operations around these two core strategies and reshape our business priorities.” “Looking forward, Alibaba’s two main strategic focuses will be ‘User First’ and ‘AI-driven,’ he said. In Tuesday’s memo, Wu laid out his long-term goals for the company, which are seeking new growth points amid a challenging economic environment and growing competition from rivals. He also took over as head of the cloud division after Zhang’s surprise exit from the unit.

(BABA)’s fourth CEO in its 24-year history. Wu replaced Daniel Zhang to become Alibaba “Times are changing, and so must Alibaba!” Eddie Wu, who stepped into the chief executive role on Sunday, said in a memo to staff seen by CNN. Initially launched as a B2B marketplace website, the Alibaba group made it big and evolved into one of the world's largest retailers and e-commerce companies.Alibaba Group will embrace artificial intelligence (AI) and promote younger people to senior management, its new CEO says, as the e-commerce and cloud giant tackles its most ambitious restructuring in its history. On June 28, 1999, Jack Ma, along with 17 other friends and students, founded at his apartment. In 1994, he started his first company, the Haibo Translation Agency, which, as the name suggests, offered English translation and interpretation services. Before venturing in the world of fintech, he worked as an English teacher at the Hangzhou Dianzi University for two years.Īfter being rejected for more than 30 jobs, Jack Ma decided to launch his own company. Who is Jack Ma?īorn on September 10, 1964, Jack Ma graduated with a degree in English in 1988. The billionaire had announced his retirement in 2019.

The reason for the same could be his controversial speech of October 2020, in which he accused Chinese State Banks of having a ‘pawnshop mentality’. In November 2022, reports surfaced that Ma had started living in Tokyo, Japan, instead of his home country.

Alibaba ceo