Reborn in 08, Public Enemy of Competitors

Chapter 109 Jack Ma, in a fit of anger, let out a tirade.

Yahoo! headquarters in the United States.

Carol Bartz had just replaced Jerry Yang as president, and during that time she had been cleaning up the mess he left behind.

Just then, the secretary rushed over, her face pale, "Something's happened in China."

"Is it Ali Baba?"

Bartz raised his head.

"Yes, we have received several anonymous whistleblower emails, all pointing to the same thing."

The secretary replied, "Ali is secretly transferring Zhifubao's shares to other companies, and it doesn't seem like a fabrication."

"Zhifubao?"

Bartz took the document, and the more he read it, the uglier his expression became.

The secretary explained, "The whistleblower letter states that Huaxia Bank is currently reviewing applications for third-party payment licenses, but it clearly stipulates that foreign investors are not eligible to apply at this time."

"Therefore, Zhifubao is not eligible for a license at the moment," Bartz said.

The secretary replied, "That's how it is in theory."

"So, in order for Zhifubao to obtain the license, Jack was willing to harm Yahoo's interests by secretly transferring Zhifubao's shares?"

Bartz suddenly stood up.

"That motive certainly exists."

The secretary said, "Should we contact Yahoo! China and ask them to help verify this?"

"No, contact Sun of SoftBank. We need to send a joint delegation to China on behalf of Ali's board of directors."

Bartz looked ashen-faced. Yahoo's previous missed opportunities to invest in Google and Facebook had become a laughing stock in Silicon Valley.

Now, Alibaba is Yahoo's most valuable asset, and it absolutely cannot afford any more mishaps!

Hangzhou, Ali Baba.

When Cai Chongxin pushed open the door, he was in a hurry, followed by Zhang Yong and others, each with an increasingly grim expression.

Jack Ma asked, puzzled, "Old Cai, what happened that even you're losing your composure?"

Cai Chongxin blurted out, "Something's happened to Zhifubao."

"Did something go wrong during the equity transfer process?"

Jack Ma's heart skipped a beat.

According to the original plan, in 09 and 10, 70% and 30% of the equity were transferred to the newly registered domestic company, "Alibaba E-commerce Co., Ltd.", in two separate transactions, with him holding the majority of the equity, to ensure that Zhifubao was completely free of foreign capital.

This line of communication is known only to a very few people at the core, and every step is carried out in an extremely secretive manner.

"Yahoo and SoftBank somehow got wind of our secret transfer of shares."

Cai Chongxin slammed his hands on the table, clearly enraged.

"What?!"

Jack Ma looked on incredulously: "How did they know?"

"It's not clear who leaked it yet."

Cai Chongxin said, "This can be investigated later, but the biggest problem right now is that Yahoo is preparing to submit documents to the U.S. Securities and Exchange Commission to publicly disclose that Zhifubao transferred shares without the approval of the board of directors and shareholders."

"AliB2B's stock price is falling."

Zhang Yong added, "There are rumors circulating that it was us, Ali, who violated the spirit of the contract and harmed the interests of shareholders."

Jack Ma clenched his fist and slammed it heavily on the table.

"Damn it, who leaked this information?! Find out! Find out for me!"

"Let's think of a solution first. Representatives from Yahoo and SoftBank will be coming to China soon."

Cai Chongxin's tone was somewhat urgent.

Zhang Yong said, "Yes, this matter must be resolved properly, otherwise it will definitely affect the subsequent overall listing of Ali."

After a moment's thought, Jack Ma finally made a decision: "Let's have a meeting to unify our statements and prevent any mistakes."

"In addition, we need to find ways to divert domestic attention and prevent public opinion from dwelling on this topic for too long."

"That would require an issue that is easier for the public to focus on and discuss."

Cai Chongxin nodded: "For example, entertainment gossip and celebrity scandals."

Zhang Yong said, "I don't know much about this, but there is a very good entry point in business."

Jack Ma asked, "Tell me about it."

"When Jiuxian.com wanted to join Taobao Mall, we conducted a background check and found several complaints about counterfeit alcohol."

Zhang Yong said, "The most crucial point is that Jiuxian.com is also a partner of Pinduoduo. Perhaps we can use this to shift the blame to another company."

Jack Ma pondered for a moment: "Will this affect Taobao Mall?"

"No, Jiuxian.com has far more orders on Pinduoduo than we do. Once this gets out, Pinduoduo will be the first to suffer," Zhang Yong chuckled. "Then, just put 'fake liquor' and 'Pinduoduo' together, and the media will naturally follow up."

"Then do as you say! Do it discreetly, so Shen Mo doesn't notice."

Jack Ma smiled. This would both divert the attention of the media and the public and strike at Shen Mo and Pinduoduo, killing two birds with one stone.

The news that Zhifubao had transferred its shares without the approval of the board of directors spread like wildfire, quickly becoming the headline news on the financial sections of major portal websites.

Yahoo publicly questions the legality of Zhifubao's equity transfer.

Jack Ma accused of bypassing the board of directors to transfer assets; Alibaba's stock price falls in response.

Our competitors won't offer help in times of need or add to someone's success, but they will definitely kick you when you're down.

The comments section was filled with diverse opinions, a real cacophony of voices. Some defended Jack Ma, while others criticized him, but most simply...

Watching the excitement.

Sun Tongyu reported excitedly, "It's done! Now we can watch from the sidelines and see how Yahoo fights Ali."

Huang Zheng said, "Yes, it would be best to let the media and industry experts give their opinions and let the public opinion continue to ferment."

Shen Mo said, "For example, if Jack Ma does this, it will damage the international commercial reputation of Chinese companies. It will not only affect Alibaba, but also the credit system of the entire Chinese concept stocks. It's like cutting down trees for future generations. It's like cutting off the way out for Chinese companies that are preparing to go public."

"good!"

Sun Tongyu grinned, feeling extremely pleased whenever she saw Jack Ma and Ali suffer setbacks.

Huang Zheng added, "This is a perfect opportunity to use this to divert public attention from Pinduoduo."

Shen Mo asked, "What happened at Pinduoduo?"

"Isn't it true that Pinduoduo has a relatively high rate of damage during fruit and vegetable transportation?"

Huang Zheng sighed: "The problem isn't that whole boxes are broken, but that only a portion of them are. However, once users receive the goods, they will directly apply for a refund, and negative reviews will increase. Although there hasn't been a large-scale outbreak, our reputation has already been affected."

"Retreat, we must retreat!"

"Our good reputation was built up order by order of ginger and garlic; we can't let it be ruined like this!"

Shen Mo clicked his tongue. If Pinduoduo's financial resources weren't insufficient to support "refund only", he would have done it long ago.

Huang Zheng said, "There's another issue. Jiuxian.com, which we cooperate with, has been involved in a fake liquor problem, with Wuliangye and Moutai being the hardest hit."

Shen Mo's expression became much more serious: "Is the situation true?"

Huang Zheng nodded: "We have already called the police. The specific reason is under investigation. Jiuxian.com, Huitong, and we are all cooperating with the police."

"Investigations take time, but users can't afford to wait."

"Although Pinduoduo is just a platform and shouldn't bear too much responsibility, this time we will make compensation first."

Shen Mo said, "Moreover, it's a refund plus one-time compensation, and we reserve the right to pursue legal action against Jiuxian.com and Huitong Logistics."

"I agree. When faced with a problem, the first thing we should do is not avoid it, but actively solve it."

Sun Tongyu chimed in, "Doing this not only stops the losses in time, but also restores a good reputation for Pinduoduo."

"at the same time!"

Shen Mo said, "We need to increase the exposure of the Yahoo and Zhifubao incidents, guiding public discussion towards Ali (Ali), and using him as a contrast to Pinduoduo. Jack Ma is a heartless and unscrupulous villain who has crossed all boundaries, while we are the righteous side upholding business ethics!"

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