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Business

Web Desk
September 10, 2019

Jack Ma steps down as Alibaba’s chairman

Business

Web Desk
Tue, Sep 10, 2019

SHANGHAI:   Jack Ma, the Co-founder of the Chinese retail behemoth Alibaba, is  stepping down as company chairman on Tuesday (Today) - the day high-profile entrepreneur turns 55.

Jack Ma, a former English teacher, along with a team of few  people founded Alibaba in the eastern city of Hangzhou in 1999; 20 years later, it has over 60,000 full-time employees. It is now a company valued over $430 billion. 

Jack Ma, the Co-founder of the Chinese retail behemoth Alibaba, is stepping down as company chairman

Since its founding , Alibaba has gone from being a traditional e-commerce company to a conglomerate that has businesses from logistics to food delivery and cloud computing.