Jack Ma who made $28 Billion last year in one the biggest IPOs of the history when his e-commerce site Alibaba went public on NY Stock Exchange. Jack Ma had a no good, very bad day on Thursday, a $1.4 billion paper loss on the plunge in shares of Alibaba. The Chinese e-commerce company reported disappointing sales that sent shares down nearly 9%. And founder and CEO Ma’s 6.3% stake in the company tumbled right along with them.
Does it mean Alibaba magic ride with the investors is over now? Alibaba’s magic carpet ride came to a standstill on Thursday following an unexpected earnings miss and a clash with China’s government, but experts tell CNBC that the world’s largest e-commerce firm remains a compelling investment.
Jack Ma is a success story that is difficult to emulate. He launched the e-commerce site Alibaba from a single room. He borrowed around $70K to launch his site. Watch the video below in which Jack Ma reveals his plans.