Alibaba co-founder and Chairman Jack Ma lamented Tuesday how much easier things were before the company’s record-breaking U.S. public offering.
Speaking before an Economics Club of New York assembly at the Waldorf Astoria Hotel in New York, he said ”if I had another life, I would keep my company private. Life was tough before the IPO. After IPO, much worse.” He referenced the transparency required as a public company, not the $25 billion raised in last fall’s IPO, the largest ever. Ma also scoffed at the independent director system, saying it is more like a pack of lawyers.
.....Ma focused on how he intends to take Alibaba global, and why U.S. small businesses need China. Alibaba is already the network bringing Canadian lobster, farm-raised Washington State cherries and Costco Wholesale (COST) nuts to China, he said.
Ma got a laugh when he said Chinese consumers don’t always get what they think they ordered. They are, he insisted, happy nonetheless, and enamored with Internet purchases because of the lack of shopping alternatives. Chinese consumers want U.S. brands, he said.....
blogs.barrons.com/emergingmarketsdaily/...rets-wooing-america/
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