Alibaba has many stories in its business development process.

After months of intense negotiations, Yahoo invested $1 billion for a 40% stake.

This was a big event at the time, involving huge amounts of money and in-depth cooperation between large enterprises.

This investment established an in-depth commercial relationship between the two.

As an American Internet giant, Yahoo's investment decisions have a huge impact on the industry.

In 2005, Alibaba had already emerged.

Yahoo sees the potential of China’s e-commerce market.

This cooperation indicates that foreign investors are optimistic about China's emerging e-commerce companies.

At that time, Alibaba must have also taken a fancy to Yahoo's resources and platform advantages.

This cooperation event is also a reflection of the operation of international capital in the field of e-commerce.

The US$1 billion invested by Yahoo is of great significance to Alibaba's further development.

Later, Alibaba made rapid progress. As it prepares to enter the capital market, the significance of investment relationships becomes particularly important.

Investors are very concerned about the control of the company. This large investment in the early stage has a direct effect on the interests of all parties when it is listed.

Alibaba has always had a unique vision.

According to Jack Ma's idea, a virtual conference room should be built to serve small and medium-sized enterprises.

This positioning focuses on the large number of small and medium-sized enterprise needs in global trade.

Jack Ma saw this huge unmet market.

In 2002, as soon as Alibaba started making profits, it planned to explore new areas.

He plans to build a website focused on the consumer market, with the intention of competing with eBay. This decision reflects Jack Ma’s strategic vision. He understands that e-commerce not only covers transactions between businesses, but also the consumer market, which contains huge growth opportunities and untapped potential.

With financial backing from SoftBank, Alibaba’s secret team developed Taobao.

The establishment of Taobao is a key step in the development of Alibaba.

From a business strategy perspective, this is an important step in Alibaba’s diversified layout.

In the e-commerce competition landscape at that time, eBay was a strong competitor.

Jack Ma led his team to create Taobao to seize the consumer market.

In the domestic market competition, Taobao faces powerful competitors such as eBay, and its main strategic move is to implement a free service policy.

Ma said he would launch free services in the next few years, a move that would be a first for the business world and a powerful way to fight overseas rivals in the Internet.

eBay initially underestimated Jack Ma and Alibaba.

Duncan Clark of Beijing-based Bodak Consulting pointed out that eBay underestimated Jack Ma's resilience.

In the Chinese market, Jack Ma has strong strategic execution capabilities.

eBay said free is not a business model and questioned Taobao's free strategy.

But it turns out that Taobao attracts a large number of users by virtue of being free.

In the fierce competition in my country's e-commerce field, Taobao has gradually expanded its market share by continuously adapting and improving itself, relying on many advantages such as excellent user services. This development trend has gradually put eBay at a disadvantage in the Chinese market.

From 2009 to 2011, Jack Ma transferred ownership of Alipay.

This move separated Alipay from Alibaba Group.

This was a unilateral decision and this move made Yahoo very angry.

Yahoo didn't learn about the situation until March 2011 because it didn't have board approval.

From a corporate governance perspective, this is not in line with normal procedures.

Some people defended this transaction, pointing out that in our country's business community, such phenomena are relatively common and mainly rely on trusting relationships between people.

This reflects the differences between Chinese and Western business cultures and corporate governance concepts.

There are reasons why Alibaba chose the New York Stock Exchange to list.

Hong Kong regulators refused to make an exception for its special shareholding structure.

The New York Stock Exchange tolerates diverse ownership structures.

Alibaba’s partnership structure is unusual and gives executives like Jack Ma more power.

Investors will judge the impact of such power on the business when it goes public this month.

This shows that in today's business world, especially in the Internet business field, control rights and capital interests are gradually reaching a new balance.

Investors have different views on corporate control, and the market will test the rationality of this particular structure.

The question is raised at the end of the article: when faced with a unique corporate structure and power layout like Alibaba, when you evaluate whether to invest in this company, will you pay more attention to the growth potential of the company, or will you be more inclined to value the norms of its management structure? sex?