Alibaba, founded in 1999 by Jack Ma and his team, has experienced remarkable growth over the years, becoming one of the world's largest e-commerce companies. One interesting aspect of Alibaba's growth is how the founders bought from each other, contributing to the company's success.
As Alibaba expanded, its founders recognized the need to establish a reliable supply chain to meet the growing demands of their customers. To achieve this, they created a unique system called the "Alibaba Partnership," which allowed the founders and key executives to buy and sell products from each other.
For example, Jack Ma, the visionary behind Alibaba, purchased goods from his co-founder, Joe Tsai, who was responsible for sourcing products. This internal buying and selling not only ensured a consistent supply of quality products but also helped build trust within the company.
Furthermore, the founders' transactions with each other served as a testament to the viability and potential of Alibaba's platform. By actively participating in the marketplace they created, the founders demonstrated confidence in their own business model, which in turn attracted more sellers and buyers to the platform.
References:
Alibaba Group. (n.d.). Our History. Retrieved from https://www.alibabagroup.com/en/about/history
Alibaba Group. (n.d.). Alibaba Partnership. Retrieved from https://www.alibabagroup.com/en/about/structure/alibaba-partnership