Jack Mar, Alibaba E-commerce Company Owner To Step Down His Position

Jack Mar, the owner of Alibaba company plans to step down his responsibilities as the CEO of the company.

Jack Mar foundered the company in 1999 as an online retails services which has grown to be one of the biggest online store in the world.

The e-commerce business has grown into World class e-commerce company that renders services to the world from China.

Jack Mar will be replaced with Daniel Zhang who will be the new Chief Executive Officer of the Internet marketplace Company.


Alibaba Group Holding Limited is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, Internet, and technology.

Over the years, Alibaba has grown from an online marketplace into an e-commerce giant with interests ranging from financial services to artificial intelligence.

It was originally set up as a trading platform for businesses, before expanding into consumer e-commerce in 2003 and later launching digital payment platform Alipay.

Lacking a background in technology and with no particular strength in finance, Mr Clark said charisma and strategic vision have been Mr Ma's biggest assets.

"His charm is a big part of his leadership, his ability to convince people whether it's customers, employees or critically shareholders."

The author first met Mr Ma two decades ago and the entrepreneur spoke of making Alibaba one of the top 10 internet companies in the world within a decade.

"[It was] a sort of impossible ambition in a way but somehow he made people believe it," Mr Clark said.



The company is now valued at $480bn (£389bn) and Mr Ma is China's richest man, with a net worth of $38.6bn according to Forbes.

He is also the first founder among a generation of prominent Chinese internet entrepreneurs to step down from his company says BBC News