Jack Ma Urges Alibaba to ‘Correct Course’ in Online Retail

(Bloomberg) — Jack Ma urged Alibaba Group Holding Ltd. to correct course in a surprise internal memo, in which the billionaire called for fundamental change across the company he co-founded decades ago.

Ma, who has mostly stayed away from day-to-day operations since 2020, stunned employees Wednesday by replying to a staff post on Alibaba’s internal forum. In his brief message, the entrepreneur praised decisions taken in recent years by rival PDD Holdings Inc. to wrest market share from China’s e-commerce leader. But Ma was convinced Alibaba will change and “correct its course,” he said in a post confirmed by people familiar with the forum.