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Alibaba is becoming an investment company
Release Date:
2023-06-26
In 1999, Jack Ma and 17 other partners from diverse backgrounds co-founded Alibaba. However, in its early days, Alibaba lacked resources, most notably investment. After Cai Chongxin, a former Goldman Sachs executive, joined the company, he leveraged his network to successfully secure funding. This led to Alibaba receiving a Series A funding of US$5 million on December 1, 1999, led by Goldman Sachs.
Many believe that without Joseph Tsai, Alibaba might not have survived the dot-com bubble at the turn of the century, let alone become a 102-year-old company.
As a master fundraiser, Joseph Tsai is known in the industry as Alibaba's God of Wealth. Simply put, Tsai is adept at securing funding and managing investments.
Looking back at Alibaba's entrepreneurial journey, Joseph Tsai orchestrated four rounds of fundraising, each time almost single-handedly saving the company.
Alibaba's first round of financing was secured thanks to Joseph Tsai.
In 1999, Jack Ma and 17 other partners from diverse backgrounds co-founded Alibaba. However, in its early days, Alibaba was penniless; its biggest weakness was a lack of investment.
After joining as a former executive from Goldman Sachs, Joseph Tsai leveraged his network to successfully secure funding, helping Alibaba obtain US$5 million in Series A funding on December 1, 1999. This investment was led by Goldman Sachs.
Little known is the fact that Joseph Tsai was instrumental in setting up Alibaba's company registration, early management structure, and capital structure.
Keywords:
Cable
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