3min chapter

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#32 Alibaba: The House That Jack Ma Built

Founders

CHAPTER

The Financial Crisis Gives You the Opportunity

Alibaba CEO Jack Ma is known for putting his customers first. During the 2008 financial crisis, he cut prices on Tabao subscriptions to increase loyalty of paying customers. The stock market went crazy as investors called him up to complain about losing 60% of revenue. But there was a method to Jack's madness and revenues didn't drop at all because customer volume growth offset the price dropped completely.

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