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#32 Alibaba: The House That Jack Ma Built
Founders
Jack and Maoshi Son Get Into It
Alipay, now entirely domestically owned, was the first of 27 companies to be issued licenses and it was awarded the license number 001. PBOC also issued a deadline for taking place in 2011, September 2011, for all companies to either obtain their own licenses or merge with an existing license holder. Companies that had operated in a gray area now found themselves being divided into black and white based on whether they had foreign investment and had obtained a license. Those that had not yet received licenses faced the risk of going out of business.
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