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Alibaba is becoming an investment company
Jun 26,2023
Many believe that without Joseph Tsai, Alibaba might not have survived the dot-com bubble at the turn of the century, let alone become a company that aims to last 102 years.
As a master fundraiser, Joseph Tsai is known in the industry as Alibaba's God of Wealth. Simply put, Tsai is adept at securing funding and managing investments.
Looking back at Alibaba's entrepreneurial journey, Joseph Tsai orchestrated four rounds of fundraising, each time seemingly rescuing the company from a critical situation.
Alibaba's first round of financing was secured thanks to Joseph Tsai.
In 1999, Jack Ma and 17 other partners from diverse backgrounds co-founded Alibaba. However, in its early days, Alibaba lacked resources, its biggest weakness being a lack of investment.
After joining, Joseph Tsai, a former executive at Goldman Sachs, leveraged his network to successfully secure funding, helping Alibaba obtain a Series A funding of $5 million on December 1, 1999. This investment was led by Goldman Sachs.
Little known is the fact that Joseph Tsai was instrumental in setting up Alibaba's company registration, early management structure, and capital structure.
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