Cai Chongxin: The First Accounting Office Of China's Internet Industry

In 1999, in Hangzhou, Cai Chongxin met Ma Yun by his friends.

Cai Chongxin was impressed by two things: Ma Yun wanted to create the grand aspiration of Alibaba.com, an international import and export platform, and Ma Yun's charisma.

Later that year, Cai Chongxin came to Hangzhou again, bringing his pregnant wife, Clara, to convince her that it would be the first of their three children.

Also in that trip, Ma Yun and Cai Chongxin boating West Lake, where they discussed the future plan of the Alibaba.

He resigned from his AB investment company for $700 thousand a year, and offered to work for Alibaba without money.

Ma Yun asked Ali all 18 founders - only Cai Chongxin was educated in the West - to receive $600 a year's salary.

Before becoming Vice Chairman of Alibaba group, Cai Chongxin served as chief financial officer of Alibaba for more than ten years, managing the development of the company.

He led the 2012 repurchase of YAHOO's stake in Ali, which spent $7 billion 600 million on repurchase shares.

Eric Jackson has become an active investor of YAHOO since YAHOO held 40% stake in YAHOO in 2007.

After Ali repurchase operation, Jackson and Cai Chongxin talked for 90 minutes in Hongkong in October 2010.

"That made me an eye opener," said Jackson, founder of Zhi Ye fund. "He is so impressive that when I concluded my talks, I said to myself," we should rush back to buy some YAHOO stocks again, because no one in the US understands YAHOO's 40% Ali, and it will become a real Internet giant. "

Finding Joe Cai is right.

The "Taiwan Zi Zi" is not only a key position in the Alibaba, but also the most sensitive position.

When a reporter asked Alibaba staff, "Joe Cai", everyone shut up, "he can't talk!" why? "He's too sensitive. I want to talk about MA (Ma Yun), but you can't talk about Joe Cai!" why can the Taiwan Tsai Tsai bring everyone's high sensitivity inside Alibaba?

In the past more than 10 years, Cai Chongxin has been the chief financial officer of the Alibaba, until recently he turned to the "executive vice chairman of the group". However, no matter how the title changed, the staff of Alibaba knew clearly that "as long as it is financial and investment, finding Joe CAI is right!" he is the "head of Finance and investment" of Alibaba group, and all of the Alibaba's capital regulation, investment, fundraising, and even to the near future will be re listed.

Cai Chongxin's business sensitivity is self-evident.

How to become the best partner in Ali Empire

Cai Chongxin and Ma Yun were born in 1964. Apart from that, the two people are almost the same from their family background, learning experience to personality.

Ma Yun is cheerful, active, good at speech, and has a unique personal charm; while Cai Chongxin is quiet and understated, and he is very easy-going.

Two people move in a static state, inside and outside, but it is the best partner of today's Alibaba empire.

In Taiwan, Cai Chongxin may not have many people who know him, but if he is mentioned as "the second generation in law firms", I believe many people will have an impression. Because Cai Chongxin's father, Cai Zhongceng and grandfather Cai Liu, is the founder of "regular law firms", which is seen as an international legal officer. In the early days of Taiwan lawyers, "law firms" and "law and law firms" were the two largest lawyers in Taiwan. Cai Chongxin grew up in a family full of legal literacy from an early age.

After completing his studies at Yale University, Cai Chongxin worked overseas. In 1996, he married Wu Sanlian, the grandson of Tainan gang and Wu Sanlian, who was also the founder of Nanfang textile. Because Cai Zhongceng had extensive contacts in politics and business, he returned to Taiwan and had a century wedding at Grand Formosa Regent Hotel.

Tsai family business is strong in strength. According to Liu Zhenwei, director of the "Huai Tong" law firm, an early partner in Shanghai, Cai Chongxin's grandfather had also received legal advice from the Shanghai gangster's godfather Du Yuesheng. His position was obvious. When he came to Taiwan, he was also entrusted with the official large-scale legal cases such as the Executive Yuan. His father, Cai Zhong, was the first person to receive the law doctor from Yale University in Shanghai, and also served as the director of Yale University.

Later, Cai Chongxin, like his father, earned a doctor's degree in law from Yale. His father and son were also from Yale, and used to be a good example of the legal profession in Taiwan.

But the next way of life is completely different from father to son.

"Cai dad" has a lively personality and a good bridge player. Cai Zhongceng, a friend in his friend's mouth, is a "genius". Many new things are learned when he learns, so he often runs in the lawyer's building.

There were few international judicial cases in Taiwan in that time.

Cai Chongxin and his father are very different in character. He is cautious and careful in his appearance. But once things are decided, it is absolutely necessary to carry out a mission.

For example, when Cai Chongxin quit his job in the European investment bank and entered the Alibaba, he staged a "family dispute" before he passed smoothly.

After graduating from Yale, Cai Chongxin originally worked in Invester AB Hongkong, the largest industrial holding company in Nordic Europe, in charge of Asian business.

In 1998, Invester AB plans to participate in the Alibaba's capital increase, so the representative Cai Chongxin and then Ma Yun had "first contact", I did not expect to talk about several times, Cai Chongxin himself "love" Alibaba, to Ma Yun self recommendation, but also accompanied his wife to show their determination.

According to media reports, at that time, Alibaba still had a vast future. The "money" scene did not know where the network company was. It could get the favor of Cai Chongxin, a foreign capital boy. Ma Yun did not dare to accept it for the first time, saying that he could only afford a monthly salary of RMB 500 yuan. Where could he afford the Cai Chongxin with an annual salary of 3 million Hong Kong dollars?

At the same time, even Cai Zhong, who had always been open-minded and democratic and respected the free development of children, shook his head. At that time, Cai Zhong asked some friends who had often been in and out of the Chinese market. It was said that every friend had cast a "no vote". But in the end, Cai Chongxin had decided, and Cai Zhong still let go and let Cai Chongxin choose for himself.

In this way, Cai Chongxin rolled up his sleeves, put the name brand suits into the wardrobe, and walked into the Alibaba headquarters in Hangzhou to start cooking.

If we look at the present standard of capital market, Alibaba at that time can only describe it as "desolate". Let alone the lack of system and standard, even the simplest company registration is not available. When Cai Chongxin arrives, he brings together the staff of Alibaba, and starts with a small whiteboard on the hot summer night in Hangzhou. It starts with sweat from the most basic "shares" and "stockholders' rights and interests". Then, he helped the eighteen "Rohan" to create eighteen contracts that fully conform to international practice.

The biggest hurdle that followed was "money", which was also the most arduous task after Cai Chongxin entered Alibaba. Especially before and after 2000, the network bubble damaged a bunch of network companies. Cai Chongxin could help Alibaba find the difficulty of finding money in the market.

From the beginning of Cai Chongxin's entry into Alibaba, Alibaba has gone through 3 important capital increases. Each time, Alibaba has reinvented itself. With its brand new appearance and shareholder members, it has been the result of hard work by Cai Chongxin.

The first increase was in 2000 and the most difficult one. Alibaba had to increase its capital by $25 million.

At that time, when the Internet bubble was in place, the Internet company was running into rivers, and how many houses it had collapsed. Of course, the situation of Alibaba was nowhere to go.

At this time, Cai Chongxin found Sun Zhengyi of Japan's Softbank.

At that time, Cai Chongxin and Ma Yun went to the office of Softbank in Tokyo to negotiate. The investment bank's Cai Chongxin was well versed in the way of negotiating the bid. Even though two people knew that the Alibaba's physical constitution was weak at that time, there were not many bargaining chips. But at the negotiating table, Ma Yun played a unique personal charm and talked about the beautiful prospect of Alibaba. While Cai Chongxin was not speaking much, Cai Chongxin said bravely "no" to Sun Zhengyi's first two bids at a critical moment.

The last two "perfect match" let Sun Zhengyi nod and promise to give us $20 million.

In this battle, Cai Chongxin helped Alibaba overcome the most dangerous difficulties.

Not long after Softbank's capital was put in place, the US technology stocks collapsed from the high point due to the Internet bubble, and many e-commerce companies were drowning in this wave of bear market. Only the Alibaba with capital in hand survived the storm of the century.

Of course, Cai Chongxin must record a large sum in his merit book.

Since then, in 2004 and 2005, Cai Chongxin once again played a cool and clear strategy analysis ability, raising $82 million for Alibaba and merging.

China's two important turning UPS not only enable Alibaba to have sufficient resources to build "Taobao network", but also to secure the throne of China's largest e-commerce today by merging YAHOO China.

An investment bank personage analysis, along the way, Cai Chongxin trader's greatest difficulty is that Ma Yun led business team, "no money at all," the only thing in the hands of this group is "look at the market, card to position."

Alibaba producer

Shareholders are not always loved.

In 2011, the ownership of Alipay was pferred. Ali caused complaints from YAHOO and Softbank. Cai Chongxin led Alibaba and YAHOO Softbank to start negotiations and reached a subsequent compensation agreement.

If Alibaba is a movie, then Ma Yun is a star starring and directing, and Cai Chongxin is a producer.

When Ma came up with a lot of ideas and went deep into business, Cai Chongxin was seen as the person who got things done.

Most people who know Cai Chongxin describe him as a low-key, fair and modest person.

"In fact, this partnership is so successful, probably because they are so different two people."

Jim Rogers, a famous investor, bluntly said, "as a team, they did a good job."