Jack Ma announced the plan to retire from Alibaba, the world’s second-largest e-commerce platform on its 54th birthday on Monday.
The reason for this retirement is that now the richest person in China, Jack Ma, wants to spend more time on his own foundation working on education and philanthropy that he made up of 40 billion dollars.
According to the new plan, the mother will resign from the post of Executive Chairman in the next 12 months and Chief Executive Officer Daniel Jang will succeed her. But the mother will be on the Executive Board until next year.
Now the point of view is the effect on the mother’s going to Alibaba. However, in the 19-year-old Alibaba can take a closer look.
* 1999: Jack Mae starts the journey of 17 people with equal status and capital of just $ 60 thousand in China’s Hangzhou.
* 2000: Alibaba Group receives $ 20 million from an investor group led by Softbank Group Corporation of Japan.
* 2003: Taobao named ‘Ebay’ as a site created by Jack Ma, where consumers can exchange with each other.
* 2004: Alibaba Alipe, an online payment system, which would later become China’s largest online payment system.
* 2005: Aliababa acquires ‘Yahoo China’.
* 2008: Alibaba Taobao Mall (now known as Tmall) creates a shopping mall where traders can sell beta directly to customers.
* 2010: ‘Alibaba Partnership’ was established to ensure management control of the company.
* 2013: Jack Ma resigns as CEO. Holds the post of Executive Chairman.
* 2014: Alibaba operates the world’s largest IPO. When the company was listed on the United States stock market, their income rose to $ 25 billion.
* 2015: Current CEO Daniel Zhang took charge of the company’s chief executive on May 10.
* However, until the annual meeting of Alibara shareholders was held in 2020, Jack would be on board.
In January, Alibaba crossed the 500 billion market value as the second Asian company. Alibaba is now one of the top 10 important organizations in the world.