Recently, there have been constant heat waves on the Internet. The issues that have garnered significant attention from the media and netizens include two major topics: one is the divorce case of Nicholas Tse and Cecilia Cheung, which has captured the attention of many. The other is the currently hottest "Alipay incident" in the IT sector, evolving from the "license controversy," to the "Taobao restructuring," and now to the "power struggle." This Alipay storm has yet to subside.
The news involving the married couple of Alibaba and Yahoo has sparked widespread criticism from the outside world. Currently, the focus of public attention centers on the ownership of Alipay. The two parties have engaged in a fierce war of words, presenting their arguments convincingly, making it increasingly resemble an online version of the "Tse-Cheung" scandal.
There are various discussions and opinions circulating on the Internet regarding the issue of control over Alipay. Industry insiders believe that Jack Ma violated the principles of contractual spirit and integrity in the Alipay incident, pointing out that his actions lacked business ethics. Let's take a look at why this online "Tse-Cheung romance" came about.
According to relevant information, Yahoo holds 43% of Alibaba's shares, SoftBank holds 29.3%, and Jack Ma and management hold 31.7%. This is a three-way equity relationship where each party checks the others. Alipay is a wholly-owned subsidiary of Alibaba, so it also belongs jointly to these three parties. In May, Alipay obtained the first batch of domestic third-party "payment licenses," which should have been a cause for celebration. However, this "license" has instead triggered today's irreconcilable situation. After it was revealed that Jack Ma had privately transferred Alipay's equity to a company under his name, this "act first, report later" move caused a seismic reaction, angering Yahoo and Alibaba's major shareholders. Jack Ma faced condemnation and doubts from all sides as suspicions arose about his intentions to privatize Alipay.
In response to this matter, Jack Ma stated, "If Alipay can't obtain the license, the online payment business will be illegal. What could I do in the face of submitting the application for the payment license?" He added, "If Alipay becomes illegal, Taobao will collapse, and it will be a severe blow to all shareholders of the Alibaba Group." Regarding the act of making decisions without prior notice, he explained that it was solely to expedite the processing of the license and had no other purpose.
While Jack Ma saw this decision as "correct," it nonetheless "offended" all shareholders of Alibaba. Watching their prized possession being taken away naturally caused pain, leading to endless internal disputes and external doubts. This dramatic transfer of control rights has made the "Alipay" incident increasingly complex. For over a month, the situation has remained turbulent, with more details gradually being disclosed as time presses on.
In this event, the astute Jack Ma once again demonstrated his skillful tactics, not only ensuring his advantageous position but also placing Yahoo in an awkward dilemma. Agreeing to relinquish control would mean losing this "money tree," while refusing would result in losing the license, rendering Alipay obsolete and potentially removed from the Internet. If not handled properly, what we currently perceive as valuable might truly become an insignificant stone discarded in obscurity.
According to related information, the "Tse-Cheung romance" of Alipay is nearing its conclusion. Yahoo, Alibaba Group, and Japan's SoftBank have reached an agreement. Alibaba will provide Yahoo with certain compensation to make up for its losses due to changes in Alipay's ownership. Outsiders believe that Jack Ma owning Alipay is just the beginning, and in the future, he may aim to take full control of the entire Alibaba Group.
The IT giants' war has finally come to a close. The seemingly real and virtual "Yahoo-Alibaba" dispute has unfolded with a drama akin to the "Tse-Cheung romance" plot twists. Returning to reality, the Internet always presents us with a picture of beauty. Experts in e-commerce across the country, such as China Nuowang (www.nuo.cn), express that the essence of the Alipay incident is very simple—contractual spirit. Though it may be just a ripple caused by a stone in the network world, after observing the rise and fall of the tides, we must understand the importance of protecting some rights around us. To develop e-commerce, registering a domain name, building a website, and server hosting require professional IDC service providers to better safeguard our rights and avoid obstacles on our e-commerce journey.
Author: Guangzhou Yinghu Network Development Co., Ltd. (China Nuowang). The article's copyright belongs to Guangzhou Yinghu Network Development Co., Ltd. (China Nuowang). Any reproduction is prohibited without permission, including deletion or modification or adding advertisements. Legal action will be taken against violators.
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