As early as the "Eighteen Arhats Conference" in 1999, Jack Ma proposed the company's goal of going public in 2002. However, over the years, Alibaba has been suffering from internal and external troubles. This goal has never been achieved.
By 2007, Alibaba's B2B business already had 25 million users, and had a good cash flow, which made it ready for listing. Moreover, according to Lu Zhaoxi's disclosure later, Ma Yun was keenly aware of the possible financial crisis in 2007. If Ali did not go public before the crisis, it is unknown when it will be delayed.
In July, Jack Ma finally announced the launch of the listing. For those employees who hold shares, this moment has been postponed for 5 years.
On November 6, Alibaba's B2B business was listed in Hong Kong. This listing directly created nearly 1,000 employees to become millionaires, which was the largest wealth creation miracle in the history of China's Internet development at that time.
Among them, the "18 Arhats" are worth over 100 million yuan per capita. These people who are called by Ma Yun as "no one wants to come to Alibaba". With their hard work, they became billionaires one by one. They were so happy to celebrate with a lion dance at the headquarters, and posted "Everyone Loves IPO" posters everywhere.
In history, when a hero establishes a new dynasty, the hero is often purged. Unexpectedly, this scene was also staged after Ali went public.
In the second month after the listing, Jack Ma suddenly announced that four executives would be transferred from their positions in 2008 and sent to business schools.
These 4 people are:
In 1996, Sun Tongyu, who followed Ma Yun and made great contributions, was the president of Taobao at the time; joined Ali in 2000
, and has long been the CTO Wu Jiong, one of the four giants of Ali;
Li Qi, who built the China Iron Supply Army, which is well-known at home and abroad;
joined Ali in 2000, and worked with Li Qi to build the China Iron Supply Army. Li Xuhui, then the senior vice president of Ali.
With the seniority, contribution, and high positions of these four people, the sudden change caused everyone to be stunned.
Sun Tongyu even cried on the spot. It is said that because his wife Peng Lei, as the company's senior executive in charge of personnel, knew about the matter in advance but did not inform her husband, the two later had a violent quarrel and divorced for a time (but later remarried).
Ma Yun's move is considered to be "a cup of wine to release the military power" and "killing the donkey".
Ma Yun’s public explanation is three:
First, they are too tired, it is time to take a break;
Second, the company needs the best management team in the world. Sending these people out to study is to let them improve themselves, in order to realize the vision of "the world's best company founded by Chinese";
Third, they go to Harvard and Peking University to study, maybe three or four years later, they will come back full of strength and passion, and become our successors and play a greater role.
However, Sun Tongyu, Wu Jiong and Li Qi did not come back after going out. Li Xuhui came back briefly, but resigned in 2011 with Ali CEO Wei Zhe due to the "supplier fraud" incident.
I personally think that the reasons mentioned by Ma Yun are not very convincing. The real reason is that he feels that after the listing, the company has entered a new stage of development. These people can no longer keep up and need to be replaced by more suitable people.
In 2000, Jack Ma suffered from layoffs, and even once asked others, "Am I a bad person?" In 2007, when he eliminated the earliest and loyal ministers with meritorious service, he was relentless and publicly used "they I'm too tired and I should take a break" is a ridiculous excuse to defend myself.
Replacing the strongest emotion with the coldest rationality, is this Jack Ma's evolution or alienation?
Perhaps, this is the fate that the helm of a large company cannot escape.