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Once all-powerful, Alibaba's 'Chinese Amazon' empire is teetering

2023-12-03T21:16:18.692Z

Highlights: Once all-powerful, Alibaba's 'Chinese Amazon' empire is teetering. Sidelined in 2020 under pressure from Beijing, the founder, Jack Ma, has just called on his former group to get its act together. Facing stiff competition in e-commerce from PDD and ByteDance, Alibaba has suffered a series of setbacks. "People of Alibaba, take up the challenge!" shouted the retired "Jack", sounding the revolt among the disoriented teams. "I'm convinced that everyone at Alibaba is listening and watching," the ousted executive dramatized.


INVESTIGATION - Sidelined in 2020 under pressure from Beijing, the founder, Jack Ma, has just called on his former group to get its act together. Facing stiff competition in e-commerce from PDD and ByteDance, Alibaba has suffered a series of setbacks.


The "Yangtze Crocodile" still has its fangs. Jack Ma surprised the Alibaba Group teams on November 29. The founder of this Chinese digital giant, the man who stepped back in 2020 under pressure from Beijing slipped unexpectedly into the internal forum of this sprawling group. In a stinging message, Jack Ma admonished Alibaba and urged it to "change" drastically. The e-commerce giant, hot on the heels of new rivals with an insolent progression, is in turmoil. "I'm convinced that everyone at Alibaba is listening and watching," the ousted executive dramatized, a few hours after announcing the almost doubling (94% increase) of revenues in the third quarter of his low-cost rival Pinduoduo (PDD), publisher in Europe and the United States of the discounted e-commerce site Temu. The group's sales, on the other hand, grew by a laborious 9%. "People of Alibaba, take up the challenge!" shouted the retired "Jack", sounding the revolt among the disoriented teams...

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Source: lefigaro

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