(Bloomberg) — Jack Ma urged Alibaba staff to take a page from hard-charging rival PDD Holdings Inc. in a surprise internal memo, in which the billionaire called on the company he co-founded decades ago to embark on fundamental change.
Most Read from Bloomberg
Ma, who has mostly stayed away from day-to-day operations since 2020, stunned employees Wednesday by replying to a staff post on Alibaba’s internal forum. In his brief message, the entrepreneur praised PDD’s decisions in past years. But Ma was convinced Alibaba Group Holding Ltd. will change and “correct its course,” he said in a post confirmed by people familiar with the forum.
“Every great company is born in a winter,” the billionaire wrote. “As the AI era gets underway, it’s an opportunity for everyone as well as a challenge.”
Ma’s missive comes as Alibaba navigates turmoil both internally and externally, where a weaker-than-anticipated economic recovery and up-and-coming rivals such as PDD and ByteDance…
2023-11-28 23:16:10
Source from finance.yahoo.com
rnrn