Manne wrote:
It’s been a rough 18 months for Chinese Internet tycoon Jack Ma, founder and chairman of Alibaba Group Holding Ltd. Early in 2011 a fraud scandal hit his business-to-business e-commerce site, Alibaba-com.
At about the same time, the U.S. government publicly shamed Alibaba-owned Taobao, a hybrid of Amazon-com (AMZN) (AMZN) and EBay, for enabling the sale of counterfeit merchandise. Last fall, thousands of small merchants protested online and outside Alibaba’s headquarters in Ma’s hometown, the eastern Chinese city of Hangzhou, against an increase in Taobao’s listing fees.
“I was so lonely at that time,” said Ma, who presents himself as a champion of local entrepreneurs and added the higher prices were necessary to fight piracy. “Nobody wanted to believe Jack Ma.”
Read More: China?s Loneliest Billionaire Ma Dabbles in Tai Chi, Poker - Businessweek
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2012/06/15
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