Interview With Ma: The Gratitude, Pressure And Awe Of Ali Listed

On the morning of September 24th, Ma Yun, chairman of the board of directors of Alibaba (87.17, -2.72, -3.03%) group, received an exclusive interview with reporters (43.61, -0.01, -0.02%) in New York today, and talked about his feelings about the listing of Ali, the construction of ecosystem, the strategy of internationalization and the concept of acquisition.

Ma Yun said that Ali was successfully listed, and was full of gratitude, pressure and awe. The stock price fell or rose temporarily. Ali focused on the long-term development in the future. He was concerned about the long-term investors. Ali did not follow the imperial model and built diversified ecosystems.

He also said that the internationalization of Ali is to help small and medium enterprises around the world, must adhere to their strategic vision and values; the standard of acquisition is whether it matches the mission of Ali, and can help small and medium-sized enterprises to develop.

The following is a record of the exclusive interview.

Reporter:

How did you feel when the stock market surged?

Ma Yun: what I think is the future.

The higher the share price goes, the more pressure we will have, and the more nervous we will feel.

Ali's successful listing, I and the whole team's mood is more complex, including both gratitude and pressure.

This pressure comes from the trust and responsibility we feel.

Ali has a great challenge in the future. We are not as good as others say, nor as bad as others say.

Ali is only 15 years old, and the share price has gone up so high that it is not necessarily a good thing.

I have no idea about stock prices, nor will I take the time to see the stock price.

The stock price is originally the market matter, the high will rise, rises will vomit, vomits will fall, is very normal.

I have to consider a lot of things and have no mind to consider the stock price.

Of course, I can't comment on the stock price now, but I'm not interested in it either.

Because this is not what I want, Ali will not care about the present.

We have to walk for 102 years, and there will be 87 years to come. We must not care about these things.

Investors can't just look at the stock price at the moment, because we want investors, not short-term speculators.

We did not celebrate how we went, but we were filled with gratitude.

I also want to thank our colleagues that the entire listing process has gone very smoothly and that we need to cooperate with so many banks and lawyers.

I think the whole process is perfect, but the work is very difficult.

We must win the trust of investors.

Also thankful, 99% of the media are friendly to us.

Reporter: choose eight customers to ring the bell. What message does Ali want to convey?

Ma Yun: This is not a message to express, but a natural act.

First of all, we always believe that "customer first, employee second, shareholder third" is our belief.

Let eight customers ring the bell, which was passed by all our thirty partners.

Secondly, we have worked hard for 15 years to achieve customer success. This is our goal.

It is not very meaningful for us to go out and show up one more time.

But for these eight people, it means a lot.

I have mentioned many times that "China's ten largest economic figures" can have small network operators or couriers.

I can't control that election, but this (let eight customers go up to ring the bell) is what I can decide.

I think they are the future of China's economy.

If we really want to say anything, then we sincerely believe that their success is our success.

Reporter: half of the eight clients up there are women.

Jack Ma:

The proportion of women is also very high.

Half of our founders are women, and 41% of our employees, 36% of management and 24% of our top executives are women.

The proportion of women in Ali is probably the highest among the big companies in the world.

In our view, there is no distinction between men and women, only the ability to be competent, without gender consideration.

Of course, I think it would be nice if I had a female boss.

Reporter: what kind of train of thought is Ali's ecosystem construction?

Ma Yun: we have been entangled in the idea of ecosystem construction.

Because the original big enterprises are all thinking of the Empire, I do not like this idea.

This strong, self centred idea will not succeed in twenty-first Century.

The difference between Ali and other companies is that we build platforms from the first day. We understand that to help small businesses, we need to build a platform.

About seven or eight years ago, we realized that the platform could not work together. We must build an ecosystem for small and medium-sized enterprises to solve the problems of payment, express delivery, credit, IT and so on.

This project involves countless people, so that small businesses can get all the resources they need at the lowest cost.

I feel that there is no ecosystem in the world to help small businesses grow. So what we have to do is very complicated, because there are no models to be found in the world, so our governance structure is also complicated.

I fully understand Hongkong, and many people ask, "how complex is your corporate governance?" if Ali is an empire, it's easy.

That's what I want to say. I want to do anything about it, but Ali's ecosystem is different.

There are big trees, small trees, lion ants, rabbits, cats and dogs, and all kinds of people form a complete ecosystem.

Ecology has spring, summer, autumn and winter, and the economy also has ups and downs.

We are trying to find a best way to solve the development of small and medium-sized enterprises. Such management and operation are very complicated and also created by Ali.

Q: what are the principles and directions and advantages of Alibaba internationalization?

Ma Yun: we must promote the development of the ecosystem around the world by small and medium-sized enterprises.

We will continue to unswervingly follow the path of SMEs and continue to help consumers unswervingly.

If we deviate from this direction, Ali will be finished.

If we cooperate with our big customers, our aim is to get their money to help small businesses.

Globalization of Alibaba does not have much advantage because our road is just beginning.

Globalization does not mean simply building a factory abroad. It is the boss of the soil.

The core idea of globalization is to create value for other countries and small and medium enterprises in order to change and help others in a globalized value system.

This is globalization.

We don't have a single person in Russia, but it is Russia's largest e-commerce website, and so is in Brazil.

You change and help others. That's the real globalization.

We have never thought of entering a country as the eldest brother to hold others, and I have only 7% holdings in Ali.

You can't control a company by shares. It's imperial thinking.

Ali's road to globalization must stick to its courage, vision, mission and values.

Q: in the face of shareholders' expectations, how will Ali continue to grow in the future?

Ma Yun: we want long-term strategic investors, and we will always look for long-term investors.

They will pay attention to the development of Ali in the next three, five and ten years.

They are not too concerned about today's share price inflation.

In their minds, they should be happy to see the share price slide, because there is another opportunity.

What we say to investors is that you are willing to play with us for five or ten years. Welcome to join us.

If you only value the next quarter, I'm sorry, you are not our partner.

Ali is from China. It is not an American company like Amazon (323.63, -0.87, -0.27%). So our stock is sold to institutions more and can not be retail investors.

We are not selling yesterday's performance to sell stocks, but that is proof of the past.

Moreover, an enterprise does not depend on how big the stock price is, but how healthy and durable it develops.

A business must have a future philosophy.

Today, the whole world is looking at Ali. We are talking about what we should do.

When B2B was listed in Hongkong in the year, I sold HK $13.5, even if it was priced at more than 20, there was no problem, but I think we were worth that price.

Then the price went to more than 40 yuan, the market went crazy, and then prices fell, and they complained.

In the process of privatization of Ali B2B, we also communicated with shareholders. Some shareholders are supporting us this time.

I remember a small investor telling us, "I buy this stock to make a dowry for my daughter. I will forget this stock."

I was very moved and stressed when I heard this.

But we can't do anything now. If we only care about the next fiscal year next year, that's not true. Ali promises ten years is ten years.

Q: what is the strategy of Alibaba's future M & A?

Ma Yun: the Alibaba board of directors has strict standards about mergers and acquisitions. I only value whether our mission coincides with the development of small businesses, consumers and future Chinese industries, such as health.

Before we buy, we will have professionals to do due diligence, and after buying, there are professionals to integrate.

My duty is to determine whether this acquisition is consistent with our mission.

We can not afford to be unaccountable.

Instead of buying our empire, we buy companies for the ecosystem.

If we want to invest in those companies on Ali platform, we can make a huge profit, but this is a mess.

We invest in you not because you can make money, but because you can help others earn money in the future.

People outside do not understand our investment, but they did not understand Ali in the first ten years.

Q: what is the inspiration of Ali's successful listing in the us to Chinese enterprises in the future?

Ma Yun: Ali came to the market today to be a representative of Chinese enterprises, but it represents China's economic growth, huge market and innovation ability.

Ali's success is an individual case, but our duty is to help others to improve this personal case.

Others say Ali has many government relations behind him, but what are the advantages of Ali and senior officials? What are we going to do? Are we going to take it, or is it a bank loan, or a tax concession, or a government subsidy? We don't want anything.

Ali did not find the bank and the government to spend a penny, did not find the government to land, did not want to get a tax preference.

We have no motive and never want to rely on corruption and bribery.

Ali did not come out of a relationship.

Anyone in Ali dare to do so, I will expel him right away.

Don't talk about the government. If Ali has any economic bribe between anyone and enterprises, I would like to.