Quoted: Alibaba's Jack Ma on what the IPO could bring (besides money)

“(We at Alibaba) should be conscious that, lying behind the massive allure of the capital market, there is unparalleled ruthlessness and pressure.”

Jack Ma, chairman and founder of Alibaba, which on Tuesday filed papers for an initial public offering in the United States. Among the main points in a translation of his letter to the Chinese Internet commerce behemoth’s employees: The company’s success is due to a mix of hard work and putting customers first, as well as plain luck, or “the fortune of the era we live in.” He urged his employees to “maintain a thankful and reverential attitude.”

As the Mercury News reported, the Alibaba IPO could be the tech industry’s biggest ever, and affects U.S. tech giants such as Yahoo, which owns a 23 percent stake in the company, as well as eBay, Google, Amazon.

 

Photo: The headquarters of Alibaba Group in Hangzhou in eastern China’s Zhejiang province. (Associated Press)

Levi Sumagaysay Levi Sumagaysay (3828 Posts)

Levi Sumagaysay is editor of the combined SiliconBeat and Good Morning Silicon Valley. She also helps take care of SiliconValley.com, the Mercury News tech website. Email: lsumagaysay (at) bayareanewsgroup (dot-com).