Jack Ma steps down as Alibaba’s chairman

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. 

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.