Alibaba’s Lazarus Moment: Co-founder Declares Company’s Triumphant Return

After doubts about Alibaba’s future, co-founder Joe Tsai says: ‘We’re back’

Alibaba, a Chinese e-commerce giant, is regaining its position as a top market player after facing pressure in recent times, as stated by its co-founder Joe Tsai in an interview with CNBC’s Emily Tan.

The penetration of e-commerce in China is predicted to grow significantly, reaching over 40% in the next five years.

Regarding the success of Chinese-affiliated e-commerce companies like Temu, Shein, and TikTok in the U.S., Tsai acknowledged their aggressive approach and Alibaba’s cautious observation.

He emphasized Alibaba’s existing presence overseas through AliExpress and Trendyol.

Alibaba’s recent internal changes, scrapped cloud computing IPO, and growing competition had raised questions about its future.

However, Tsai expressed confidence in Alibaba’s position as a leading e-commerce player in China, owing to a restructuring and new management.

Furthermore, Tsai discussed Alibaba’s commitment to improving its artificial intelligence capabilities and monetizing cloud computing.

He highlighted the rich use cases for AI applications in e-commerce, such as rapid product catalog creation and virtual dressing rooms.

Amid U.S.-China tensions, Tsai emphasized the need for cooperation between the two governments in certain areas.

Alibaba would have to navigate this dynamic, despite its decision to suspend plans for a cloud IPO due to unfavorable market conditions.