Jack Ma: Alibaba Isn't as Innovative as Tencent

Alibaba founder and former CEO Jack Ma may have retired, but that certainly doesn't mean he's keeping his mouth shut. Earlier this week, Ma spoke candidly about Alibaba's failures in the mobile arena; specifically its failure to keep pace with competitor Tencent's WeChat (which is already paying off big time for Tencent). Said Ma:

We [Alibaba] invested a lot of money but we weren't lucky enough, and we didn't have that much innovation. When it comes to innovation, Alibaba isn't as good as Tencent; they have the powerful WeChat.
Of course, that doesn't mean Alibaba is in trouble. The company is still raking in boatloads of money, and Jack Ma thinks the future looks bright: "The next five years will be the golden age of e-commerce [in China]," he said at a conference on Wednesday. Still, Ma is right that the company is weak in mobile, and Tencent's WeChat might not look like a threat as a chat app, but it's already moving toward monetization and online-to-offline e-commerce is reportedly one of the paths Tencent has chosen for the app going forward. Whether it can unseat Alibaba remains to be seen, but it seems very unlikely. Innovative or not, Alibaba is a beast in China's e-commerce sector, and not even Tencent will be able to take it down without a real challenge. (via Sina Tech, Image Getty via Businessweek)
The post Jack Ma: Alibaba Isn't as Innovative as Tencent appeared first on Tech in Asia.

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • What can void a new car warranty? James Deakin - Wheel Power
    What can void a new car warranty?

    "I was denied warranty once for changing my horn!" One very annoyed reader wrote. "I was told that placing a backup camera will void my warranty" said another. The others are best left in my private inbox as Yahoo! have a swear jar in the office that I do not feel like donating this week's pay to. Continue reading → …

  • Docu exposes destruction of PH marine resources VERA Files - The Inbox
    Docu exposes destruction of PH marine resources

    By Kiersnerr Gerwin Tacadena, VERA Files "Gutom (hunger)," Sen. Loren Legarda said is what’s in store for the Filipino people if destruction of the country's marine resources is not stopped. Legarda, chair of the Senate committee on Environment and Natural … Continue reading → …

  • ‘Yolanda’ fiberglass boats modern-day Noah’s ark VERA Files - The Inbox
    ‘Yolanda’ fiberglass boats modern-day Noah’s ark

    By Jane Dasal, VERA Files If you want to save the earth, build a boat. That's what a group of environmentalists is saying, especially if you want to save both the forests and fishermen affected by supertyphoon “Yolanda” (Haiyan). “Haiyan … Continue reading → …

Poll Choice Options