Probably, Jack Ma never saw the red carpet at his feet and possibly he still refuses to see it. It would have been particularly difficult to foresee that Alibaba Group Holding Ltd (NYSE:BABA) would go from a $25 per month paying job to a $25 billion remuneration only on its Initial Public Offering (IPO). FOX informed what exactly this success represents for the Chinese people.
Alibaba Group Holding Ltd (NYSE:BABA)’s CEO mentioned many times throughout his speeches on different media portals that the greatest achievement he could attain was to inspire the upcoming generations of entrepreneurs and young people in general. It’s obvious that he succeeded and Alibaba Group Holding Ltd (NYSE:BABA) will be an example for many brilliant unknown talents from China, which saw the number of its nearly-graduated college students increase by 500% throughout the last decade.
“To China it’s about finding and creating the new generation of superheroes. It’s about national pride, because in the past all these SOEs [State-Owned Enterprise] have been going abroad and stealing international spotlights, but Alibaba is a private home-grown company,” said Tracey Chang.
Consequently, Alibaba Group Holding Ltd (NYSE:BABA)’s success portrays the victory of the private sector over the public one, which is associated with strong and demanding rule of law. Jack Ma has been and will inevitably be on top of the headlines as an example of an ordinary businessman attaining hard-worked fame and prosperity.
“China’s state-owned news media have been covering this IPO story non-stop. We literally saw Jack Ma’s face on TV every three minutes, because to China this story is so much bigger than just the biggest IPO ever,” reported Tracey Chang.
Alibaba Group Holding Ltd (NYSE:BABA)’s currently amid developing future prospects towards reaching a larger portion of the market, so there could be some silence before we’ll hear news that could remotely challenge the IPO of the previous week.
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