Figuring Outย โขย 6m
How Alibaba Beat eBay in China So In 2003, eBay was leading Chinaโs e-commerce market with over 77% market share! But then, because of one company, eBay exited Chinaโs market and never came back again. And that company is Taobao (Alibabaโs B2C site, similar to Amazon). But how did Jack Ma manage to defeat a $30 billion company? Thatโs because of how Jack built Taobao! While developing their website, eBay focused on making it clean and minimalist, selling only high-quality goods with no option to bargain. They believed a better experience would attract more customers, and at first, it seemed right as they scaled to 77% market share. But, but, butโat the same time, Jack was cooking Taobao, and it worked in the exact opposite way! Taobaoโs site was clumsy, sold mostly cheap and low-quality goods, and the best part? Bargaining was compulsory! Jack, being Chinese, understood local consumers better than anyone. So, he designed a platform that Chinese customers would actually enjoy shopping on. Along with that, Taobao had free listings, Alipay integration, and better customer service. As a result, Taobao, launched in 2003, crossed 80% market share in just four years of start, while eBay permanently exited the Chinese market in 2012. Thatโs how Jack Ma, a relatively small entrepreneur, beat a giant like eBay! โeBay is a shark in the ocean. We are a crocodile in the Yangtze River. If we fight in the ocean, we will lose. But if we fight in the river, we will win.โ โ Jack Ma
Keen Learner and Exp...ย โขย 1y
Jack ma (original name: yun ma) - the founder of Alibaba group visited America in 1995 where he got introduced to internet and he realised that there was no product on internet from china. That's when he created โchina pagesโ which gives the informat
See MoreSeed of innovationย โขย 5m
The GX Method: How Billionaires Achieve Exponential Growth Billionaires like Jeff Bezos, Elon Musk, and Jack Ma werenโt the smartestโthey were visionaries who mastered exponential growth (GX Method). ๐ 1. They Bet on the Future Early Bezos saw e-
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### **Entrepreneurial Journey: The Story of Jack Ma** "Jack Ma, the founder of Alibaba, is a prime example of how perseverance and vision can transform failure into success. ๐ Born in a poor family in China, Ma failed his college entrance exams t
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Medialย โขย 8m
Alibaba: Overcoming Rejection to Build a Giant Jack Ma, a former English teacher, founded Alibaba in 1999 to help small businesses in China connect with global markets. Despite facing rejections from investors, Ma persisted, focusing on e-commerce,
See MoreContent creatorย โขย 4m
India's M-sand (manufactured sand) market is growing, with the industry valued at around $908.6 million by 2032, and is an alternative to river sand, particularly in states like Karnataka, where there's a shortage of river sand and granite is readily
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This billionaire said Chinese regulators๐จ๐ณ are outdated and criticized banks for not helping startups more. Then he vanished for 3 months. of course Their gov. didn't like it. When he returned, he had lost: - $40 -50billion๐๐ต -Loss control ov
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Medialย โขย 10m
STAY UPDATED! (#MARKET CRASH) ๐ฅฒ One of the reason behind today's crash is The Selling of holdings by FPI (Foriegn portfolio investors) Foreign investors are moving from Indian stock market to Chinese stock market because of recent development anno
See MoreAI Specialist | Rese...ย โขย 1y
Tesla Gains Big Market Access in China with Price Cuts and Government Approvals 1. Tesla's Model Y approved for Chinese government procurement. 2. First time Tesla vehicles are eligible for Chinese government purchases. 3. Significant opportunity fo
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