Is it really because of Tsai Chongxin that Jack Ma can get such a high amount of financing?

In May 1999, Tsai Chongxin flew from Hong Kong to Hangzhou to meet Jack Ma, and when they met for the first time, they were moved by Jack Ma's powerful speech. One conversation is four days. According to the description in the book "Equity War", in those days, Tsai Chongxin said to Ma Yun at the time, "Jack, I quit the job over there, I joined Alibaba."

It is said that after hearing the news, Ma Yun, who was on the cruise ship, was so surprised that he almost jumped into the West Lake. In this way, Tsai Chongxin gave up his six-figure annual salary (reportedly 700,000) and became the CFO of such a small company that was unknown at the time, receiving only a salary of 500 yuan a month.

As soon as Cai Chongxinfu took office, he did such a big thing: clarifying and implementing the share agreement of 18 veteran employees of Alibaba. This move tied the interests of the team together, turning Alibaba, a family business that originally belonged to Jack Ma and his family, into a real company with a modern corporate structure.

Another thing Tsai did was to pull investment from VCs such as Goldman Sachs, his former employer, Investor AB, and Singapore's Technology Development Association, and completed Alibaba's $5 million angel financing. This financing not only made Alibaba's blood, but also obtained the credit endorsement of investment banking giant Goldman Sachs.

Therefore, when Masayoshi Son, chairman of Japan's SoftBank, saw Ma Yun, he had to be amazed: the thin young man in front of him actually received investment from Goldman Sachs, and he also had a Wall Street investment banker Tsai Chongxin of Beijing as his CFO!

I think it's not entirely Tsai's fault, but also partly because Alibaba's future is really good.

I think it has something to do with Tsai Chongxin, and Ma Yun's vision is very unique.

There is part of this reason. Because Tsai Chongxin helped Ma Yun a lot and brought him connections.

There must be other reasons, and if the company doesn't have that strength, it's useless to rely on this relationship alone.

No, no matter how iron the relationship is, you won't get financing, you can only rely on strength.

There is a certain relationship, talented people help Ma Yun attract talents, and the prospects are quite good.

Maybe part of the reason, I think it mainly depends on Jack Ma, because he has that strength.

I think this is one of the reasons, and the other is that Jack Ma himself has strength.

Well, there will definitely be some of them, but not exactly, the most important thing is that they have a lot of strength.

In the eyes of many people, Alibaba's achievements are second only to Jack Ma for his achievements, because Alibaba was made from scratch by Jack Ma and him. So, what is the talk of Joe Tsai within Alibaba? It is rumored on the Internet that Ma Yun fired Tsai Chongxin, what is the truth?

The relationship between Jack Ma and Joe Tsai.

Tsai Chongxin, this is one of the most trusted men of Ma Yun, he has a very legendary story with Ma Yun, without Ma Yun, there is no Alibaba, but without Tsai Chongxin, there is no Ma Yun. For Tsai Chongxin, in 1999, he could get a job with an annual salary of 700,000 US dollars, which was basically the peak for him at that time, and there would not be much room for further promotion. On the contrary, following Jack Ma, although from the perspective of the environment at the time, Alibaba was still a start-up company that was being favored by investment companies, but Ma Yun's leadership, personality charm and relationship with subordinates, as well as the prospects of Jack Ma's projects, all attracted Tsai Chongxin.

Therefore, choosing to give up your existing high-paying job may be risky, but if you succeed, the reward will be even greater. In fact, it also proves that Tsai Chongxin's choice after careful consideration was right. Tsai Chongxin's choice may be risky in the eyes of many people, but he still has a way out, first, Yale's degree has a high gold content, second, his industry experience allows him to retain his way out even if he tries to fail, and third, the accumulated wealth of his family and individuals is guaranteed for his future life, which is enough to support him to spend more time trying to start a business.

Therefore, this attempt is also worth it for Tsai Chongxin. Tsai Chongxin's giving up a million-dollar annual salary and then joining Jack Ma's team can be said to have become a widely praised thing in Alibaba's entrepreneurial history. Many people admire Tsai Chongxin's vision and courage, and of course, what they admire even more is Jack Ma's personality charm.

How important Tsai Chongxin is to Alibaba can be seen from Alibaba's B2B listing in Hong Kong in 2007. Before going public, Alibaba had four board seats, one for SoftBank, one for Yahoo, one for Jack Ma, and one for Joe Tsai. After the listing, it was also stated in the public prospectus that Tsai Chongxin still occupied a seat on the board.

So there is no doubt that Joe Tsai is Alibaba's No. 2 person. It is not difficult to understand that the appearance of Tsai Chongxin is like a rescue sent by God for Ma Yun, not to make Ali "like a tiger with wings", but to let Ali grow into a "tiger" step by step.

At the beginning, Tsai Chongxin decisively gave up his annual salary of 5.8 million yuan and chose to take a monthly salary of 500 yuan to start a business with Ma Yun, which is also very commendable. At present, Tsai Chongxin has not actually left Alibaba and still serves as the executive vice chairman of the group, so it is obviously a rumor that Ma Yun fired Tsai Chongxin on the Internet.