#Asia #China US Ad Tech Platform Smaato Acquired By Chinese Firm For $148M

//

Smaato, San Francisco-based real-time ad tech platform, announced this Friday that they have reached an agreement with China’s Spearhead Integrated Marketing Communication Group for a full acquisition valued at $148 million USD.

According to a company statement, the deal, which is still subject to final regulatory approvals, will be conducted through an M&A fund backed by one of Spearhead’s fully-owned subsidiaries.

As one of the world’s leading real-time bidding and supply side platforms (SSP) for mobile advertising, the 11-year-old startup claims to have a combined reach of more than one billion mobile users.

China’s booming mobile ad market has long been a strategic focus for Smaato. In a previous interview with TechNode, the company’s CEO Ragnar Kruse detailed the company’s plans for China hinted at a local partner  for their entry. The deal will give Spearhead a pool of resources to fuel a global expansion, while Smaato will be able to finally tap the Chinese market with a well-established local partner.

“This collaboration creates enormous new opportunities for both partners. Spearhead brings to Smaato not only its expertise and a trusted partnership but opens up the Chinese market for us,” said Smaato CEO and co-founder Ragnar Kruse said in a statement. “Smaato allows Spearhead to expand very quickly outside of China.”

Despite the advantages brought about by the collaboration, the company still have to compete against a slew of rising local competitors like Mobvisa, which acquired NativeX for $24.5 million USD this February.

from TechNode http://ift.tt/1XQsGLS

#Asia #China This Is What China’s First Operational Drone Deliveries Look Like

//

Chinese e-commerce company JD.com has revealed the country’s first operational pilot program for drone deliveries, as tech firms compete to reach the country’s untapped rural consumers.

A JD spokesperson confirmed with Technode that the company is using at least two types of UAVs to deliver packages between designated distribution centers in rural areas outside of Suqian in northeast China.

The drones are capable of autonomously loading and unloading packages, and a single flight route manages up to 200 packages a day. The company uses one type of drone for longer-distance deliveries and another to carry heavier packages over short distances.

Current deliveries are up to 15kg each, says the company, which is significant given Amazon’s drone delivery trials are aimed at parcels less than five pounds (2.3kg). JD says the deliveries run over maximum distance of 20km and a top speed of 54km per hour, meaning the the longest possible flight undertaken by the service is still under 20 minutes.

The company claims the service halves delivery fees to less than 0.5 RMB (7.5 US cents) per parcel. Currently the drones fly exclusively between depots before being distributed to “village promoters”, who then manage the final package deliveries.

“We have no intention of delivering directly to people’s houses,” the spokesperson told Technode. “For rural areas a lot of the time roads and things are not very good, or it’s too far and it’s just not efficient to send a truck.”

For now the service will be restricted to Jiangsu province. The company cites regulatory restrictions as the main hurdle in expanding the unmanned deliveries to other areas in China, and currently do not have a timeline to launch the service in other locations.

Lowering Logistics Costs To Tap Into China’s Rural Consumers

Screen Shot 2016-06-13 at 6.51.23 AMDrone deliveries are still very much a novel idea in urban China. The country’s overpopulated cities and localized bans on unmanned areal vehicles make it unlikely that door-to-door drone delivery will be normalized in cities any time soon.

China’s rural areas are a very different story. Vast areas of the country are underserved by traditional infrastructure, leaving consumers cut off from the lighting-quick e-commerce services that buyers in urban centres have become accustomed to.

E-commerce companies, like JD.com and Alibaba, currently work through a series of distribution depots, which can sometimes even act as e-commerce community centers, equipped with tools for customers to both buy and pick up deliveries.

Screen Shot 2016-06-13 at 6.51.15 AMAmid sluggish economic growth, China’s tech firms have renewed efforts to tap the country’s rural consumers, which primarily involves cutting logistics costs. JD revealed their plans to launch drone flights earlier this year. Last month the company also sealed a partnership with robotics company Siasun Robot and Automation Co. Ltd. to build smart robotics systems for their warehouses, including autonomous vehicles.

Alibaba, which operates the country’s most popular e-commerce site, Taobao, has also invested heavily in building out their logistics network. In March this year Alibaba’s logistics affiliate, Cainiao, reportedly raised funds in the vicinity of $1.5 billion USD at a valuation of around $7.7 billion USD.

The same month Alibaba also revealed an ambitious partnership with the China Communist Youth league, a state-sanctioned youth group, to train a million school-leavers in the fundamentals of e-commerce with a view to boost business in China’s rural and regional areas.

Screen Shot 2016-06-13 at 6.51.44 AM

Image Credit: Xinhua.com

from TechNode http://ift.tt/1U34KhZ

#Asia #China Alibaba’s Finance Arm Invests $35M In Data Firm

//

Alibaba’s finance arm, Ant Financial, has further expanded their fintech empire with a new investment in Chinese finance data provider Shanghai Suntime Information Technology (朝阳永续).

According to a source who spoke to Reuters news agency, the Alibaba affiliate invested $35 million USD for one fifth of the data company. The injection makes Ant Financial the second largest stakeholder in the company, behind company chairman Liao Bing.

Shanghai Suntime provides a range of finance-related services, including a high-level wealth management platform for tracking the performance of hedge funds and other large asset groups. The company is also performs data analysis and earnings forecast services for listed companies.

Ant Financial, which oversees a range of finance and insurance services, including China’s most popular online payment service Alipay, raised $4.5 billion USD in April to fuel additional investments. The company is currently valued at around $60 billion USD.

Last week Alibaba CEO Jack Ma said he foresees a Hong Kong listing for Ant Financial, unlike Alibaba which listed on the New York Stock Exchange in late 2014.

from TechNode http://ift.tt/1tjWtzk

#Asia #China This Startup Is Using WeChat Chatbots To Scale English Learning

//

Whether it’s a MOOC or a live-streamed tutoring session, the bottleneck for most edutech startups is usually the same: teachers.

“Chat [is] this two-way medium. It’s really well-suited for education,” says David ‘DC’ Collier, the CEO of Rikai Labs, an English education startup based in Shanghai. “You’re chatting with a chatbot and…actually learning at the same time.”

Rikai Labs is using chatbots to boost the scalability of its English education platform. Instead of only interacting with either a computer or a human, like in a one-on-one video session, Rikai Labs implements something called  “Artificial Artificial Intelligence”, which blends the two.

For example, during any given lesson, Rikai Lab students will converse with both chatbots and human teachers, running through structured content as well as more open-ended role play. Lessons are conducted through WeChat’s chat interface.

“We don’t really regard the AI as necessarily replacing the teacher,” says Mr. Collier. “It’s more like a teacher’s assistant.”

The concept of “AAI” comes from Amazon’s Mechanical Turk, which outsources tasks that are difficult or unsuitable for computers to human beings. These tasks are known as “Human Intelligence Tasks” (HITs) and include things like labeling pictures and transcribing spoken audio files. For Rikai Labs, “Human Intelligence Tasks” include open conversations between students and teachers, who don’t need to be trained in order to talk to humans. Rikai Labs’ chatbots, which the company calls “teacherbots”, are responsible for simpler interactions, such as providing practice material and responding to student answers.

“[Chatbots are] taking out all of the drudgery,” says Mr. Collier. “Hopefully, [teachers] would be able to deal with twenty students at the same time.”

As Rikai Labs’ chatbots get smarter, the student-to-teacher ratio should increase, says Mr. Collier. The platform’s chatbots, like Rikai Labs’ students, learn from teacher corrections, which happen not only during human-to-human interactions, but also bot-to-human interactions as well. When Rikai Labs’ students are practicing with chatbots, for example, teachers can observe and jump in at any time to correct mistakes. As the amount of training material increases, Rikai Labs’ chatbots will become better and better at catching grammar mistakes and teaching students, says Mr. Collier.

Screenshot_2016-06-08-10-38-36

Rikai Labs’ on-demand English language platform.

China’s Chatbot Industry Is Still Early Stage

In China, chatbots are nowhere near as hyped up as they are in Western countries, where tech giants like Facebook, Google, Microsoft, and Amazon are actively investing in chatbot technology. For example, Google and Facebook are developing powerful natural language processing (NLP) tools, which are the backbone of chatbots – they’re what enable them to understand human speech and respond accordingly.

In May, Google open sourced SyntaxNet, the company’s NLP engine that can parse text and understand grammar. Facebook has its own natural language tool called DeepText, which helps chatbots mimic human speech by learning from Facebook content. China’s tech giants, on the otherhand, have been pretty quiet when it comes to chatbots, though related fields, such as artificial intelligence and natural language processing, are obviously areas of interest, especially for Baidu.

Besides Rikai Labs, there are a few other WeChat chatbot accounts. There’s Microsoft’s Xiaobing (小冰), a flirtatious female bot that users can chat or play games with (she challenged me to a Chinese idiom competition. I lost). Another chatbot WeChat account is Turing Robot (图灵机器人), whose conversational abilities appear to be less mature than those of Xiaobing.

Still, when it comes to more commercial or service-oriented WeChat accounts, chatbots are rarely implemented, says Mr. Collier.

“WeChat is just an amazingly underused platform,” he told TechNode. ” [In] Slack, everyday people are releasing cool new applications that really use the platform. [In] WeChat, people are just shoving marketing material on webpages.”

WeChat’s Developer API supports many functions that are useful for chatbots, such retrieving text-to-speech output, says Mr. Collier. However, most WeChat applications stick to HTML5 pages and rarely take advantage of WeChat’s built-in chatbot potential. In addition, though other chat platforms, such as Line and Facebook Messenger, have the ability to utilize chatbots, WeChat is the only one that can really monetize it as a business, due to its micropayments system WeChat Wallet.

Of course, chatbots still have a long way to go, especially when it comes to open-ended and less structured chat dialogue. “We’re trying to take a fairly curated approach…so it’s not just random chat,” says Mr. Collier. “Over time, we’ll have to see how scalable we’re able to [teach] people.”

“We’ll probably need a bot to watch the teacherbot or something like that, so we don’t get a Microsoft Tay kind of situation,” he adds.

The Shanghai-based startup will face stiff competition from all directions, as China’s English education market is highly lucrative and fiercely competitive. The industry includes large, traditional education companies, such as Education First and Wall Street English, as well as startups, such as Liulishuo (流利说) and 51talk.

Currently, Rikai Labs’ service is free – students can start lessons by following the company’s WeChat account – but doesn’t have that much content. According to Mr. Collier, the company plans to launch another version in two months, and will charge students 20 RMB (about $3 USD) per lesson in future versions.

Image credit: Shutterstock

from TechNode http://ift.tt/25LGM28

#Asia #China Chinese Online Gaming Firm Giant Interactive Gets into Pictures

//

Chinese online game developer and operator Giant Interactive Group is getting into China’s booming movie business, local media reports said.

According to the reports on Monday, the company has formed a new subsidiary called Giant Pictures (Jùrén Yǐngyè / 巨人影业)

It is the first major move Giant has made since it was privatized in 2014 in a U.S.$3 billion deal and then re-listed in China via Shenzhen-listed Chongqing New Century Cruise in a reverse merger worth U.S.$2.1 billion.

Giant Pictures will develop film and television projects, as well as invest in other intellectual property and entertainment industry investments.

The studio plans to draw on its own gaming IP to create novels, online and TV dramas, as well as feature films as well as invest in other projects.

Giant Interactive CEO Liu Wei told local media that the company has some experience with the film industry though having worked with local celebrities including Fan Bingbing, Yang Mi, and Wang Baoqiang.

Giant also hired director Zhang Yimou’s production designer and art director on the films Hero and House of Flying Daggers, Huo Tingxiao, a to be visual director on Jianghu, a 2D Massively Multiplayer Online Role Playing Game (MMORPG).

The company is best known for the MMORPGs ZT Online 2 (also called Long Journey 2) and for Allods Online.

“Giant Interactive has been ambitious to get into the entertainment industry for awhile now” said David Hao, Managing Partner at Elements Capital in Beijing.

The move follows earlier announcements by Chinese game developers including Netease, Youzu Interactive and Linekong that they were moving into film projects.

“I think it is a big trend that everyone is moving to” said Hao. “It’s just a matter of when.”

Giant Interactive revealed a strong interest in the film industry when it became an anchor investor in a recent RMB 10 billion capital campaign by Wanda Pictures.

“Given the upcoming high possibility of success for the World of Warcraft film, I think more Chinese companies will be pumped to jump in,” said Hao, referring to the imminent release in China of one of the movie version of one of the most popular MMORPGs of all time.

Expectations are high for the Warcraft film with pre-sales for its opening day on Wednesday already hitting RMB 95.2 million ($14.5 million).

According to GF Securities, at least 10 percent of the total 100 million players of Activision Blizzard Inc.’s World of Warcraftgame are based in China.

There is huge potential for more game-to-movie adaptations in the future as the gaming industry continues to expand. China’s video games industry is estimated to be worth $24.4 billion this year, making it the biggest market for game publishers, according to research firm Newzoo.

More details about Giant Pictures are expected to be announced at next week’s Shanghai International Film Festival.

This article originally appeared on China Film Insider

About the Author: Fergus Ryan is a reporter at China Film Insider and previously worked  as a journalist for the News Corp. publications China Spectator and The Australian.

from TechNode http://ift.tt/1TV2NnJ

#Asia #China Analyse Asia Podcast: The State Of IoT In Asia Pacific

//


Charles Reed Anderson from IDC joined us to discuss the state of Internet-of-Things (IoT) in Asia Pacific. We started with an analysis of the IoT market maturity index across China, India, and the rest of Asia Pacific, and dissected how Asian companies are currently prioritizing their objectives with IoT. In our review, we dived deep into the state of wearables, with the healthcare industry looking to be a new market opportunity for many Asian tech giants such as Samsung. Last but not least, we looked at what’s next from now until 2017.

Download MP3 (24.5 MB) or Subscribe via RSS

  • Charles Anderson, Vice President, Head of Mobility and Internet of Things Asia Pacific, IDC
  • Internet of Things: What’s hot, What’s Not, and What’s Next
    • What has been happening in the first half of 2016 for the IoT market? [1:20]
    • Overview of IoT so far
      • 8.6 billion connected “things” and a $508 billion market opportunity by 2019: What are these 8.6 billion things and what are the market opportunities? [1:58]
      • How does one assess IoT market maturity by 2019? How are Asian countries assessed on the IoT market maturity chart based on IoT units/capita? Which countries will break out in the next few years? [2:42]
      • For China, how does IoT market maturity vary across different tiers of cities? [4:55]
      • What did we see back in 2015 and where are we now in the first half of 2016? [5:41]
        • Skills shortage in the region
        • Nobody is writing blank cheques
      • From now until the next few years, how does one make the reality check for IoT deployment in Asia Pacific? [6:40]
    • What’s hot? [7:35]
      • What does the public see and what has been delivered in the IoT space? [7:35]
      • Which are the top 5 Asia Pacific IoT use cases? [9:49]
        • Increase productivity
        • Improve product quality/time to market
        • Process automation
        • Cost Reduction
        • Faster/better decision making
      • How does that contribute to operational excellence? [11:15]
        • 12% of Asia Pacific enterprises see IoT as an opportunity for revenue generation.
        • 8% of Asia Pacific IoT initiatives were internationally focused in 2015.
      • Where are the Asia Pacific IoT initiatives focused on in 2015?
      • What factors hinder IoT solutions in Asia Pacific? What kind of challenges must they address? [12:34]
        • Is security really a concern?
        • Conflation of security and privacy. [14:01]
      • Who holds the budget in the decision making process? Which groups are driving the IoT solution decisions? [14:41]
      • Why do Australian and Singaporean business units own the IoT budgets as opposed to companies in China, where IoT budgets are owned by the technology team?
    • What’s not?
      • Let’s start from wearables. We see Fitbit not doing well in the public markets. Why is that? [16:18]
      • What are the next waves for wearables? [17:54]
        • Samsung’s Simband [18:28]
      • Is healthcare the real opportunity for wearables growth? [18:50]
        • Example of Bosch where the operations team use smart watches in cold weather. [19:05]
      • What are the different approaches to shift the conversation from what’s not to what’s yes for IoT? [19:41]
    • What’s next? 
      • An interesting case: Demand Logic’s focus on smart buildings. [20:52]
      • What are the interesting technologies in the IoT horizon? [22:05]
        • IoT at the edge [22:16]
      • How does one establish the business case for IoT? For example, smart meter costs?[22:47]
      • What keeps Charles awake at night on the movement of IoT? [25:00]

from TechNode http://ift.tt/1YdZ7Tg

#Asia #China Baidu Leads $300 Million Investment In Auto Website Bitauto

//

Baidu has led a $300 million USD investment in one of China’s biggest auto trading and marketing platforms, BitAuto, revealed the search giant on Monday. It’s the latest company to join Baidu’s growing auto investment portfolio.

Baidu is joined by several previous investors in BitAuto, including internet services giant Tencent and e-commerce company JD.com. The three companies each purchased $50 million USD worth of newly issued shares from BitAuto at $20.23 each. BitAuto listed on the NYSE in November 2010.

The new round of funding comes as China’s burgeoning tech autos market undergoes a fresh round of new strategic partnerships between ride-hailing services, online service platforms, and autonomous and electric car projects.

Baidu, which is also a strategic investor in Uber, has been building up their deep learning and AI capabilities to support their autonomous vehicle project, tipped to be revealed in 2018. Tencent is a major investor in Uber’s top China rival, Didi Chuxing, which recently secured a $1 billion USD investment from Apple as part of a larger strategic fundraising effort.

Bitauto is also an investor in ride-hailing services. The company lead a $20 million USD B series in Didi chuxing competitor Dida Pinche, which in May 2015 raised a further $100 million USD from China Renaissance Capital Investment, TBP Capital and IDG Capital Partners among others.

Bitauto CFO Andy Zhang reportedly met with Uber CEO Travis Kalanick in March last year to discuss a possible partnership between Dida Pinche and Uber. While there has been no evidence that the two have since worked together, the Baidu’s strategic investment now puts them in the same investment family.

Bitauto, which predominantly serves as a trading platform for new and used vehicles, says they have already begun leveraging Tencent and JD.com’s respective strengths in social media, big data and e-commerce.

“Through our new partnership with Baidu, we expect to leverage its leadership in mobile and desktop online search, big data and transaction services platforms for additional strategic advantages,” said William Li, CEO and Chairman of Bitauto in a statement.

from TechNode http://ift.tt/1X86wnl

#Asia #China Netizens Now Pay More For Dating Shows Than Gaming On China’s Top Streaming Platform

//

Reformatting Chinese dating shows to fit the live-streaming market is a highly profitable business. To the point that it’s overtaken gaming as the top earner on the country’s biggest live-streaming services platform, YY.

YY’s online dating show platform revealed that the average revenue per paying user (ARPU) in the first quarter of 2015 surpassed $100 USD, and surged up to about $130 in the fourth quarter.

It’s a staggering spend, outpacing the previous top money-maker in live-streaming, massive multiplayer online games (MMORPG). In the fourth quarter of 2015, an average paying user playing one of these games on China’s largest gaming platform, Tencent, spent between $40 to $60, less than half the amount on YY’s dating service.

Source: YY Inc.

Source: YY Inc.

Like other non-gaming services hosted by YY, the dating service has been counting on virtual gifts as their primary source of revenue. Launched in November 2013, the dating service generated over $100 million USD in virtual item sales in 2015, a 235% year-over-year increase. In the first quarter of 2016, 283,000 paying accounts purchased $32.8 million worth of virtual gifts on YY’s platform.

yydating

According to YY, the dating service was so far “the most engaging and interactive” among all their social offerings as of the end of 2015.

Based on a popular dating show format in China, YY’s online dating show has a virtual stage that can accommodate up to five male and five female users, with a host moderating each session. YY allows anyone to participate or apply to be a host. Shows on the YY platform are live streamed and multiple sessions can take place at the same time. There are features that allow participants and audiences to interact with each other, such as “Like” functions for each contestant as well as greetings, comments, private messages or gifts.

Interface of YY Dating Show

Interface of YY Dating Show

Anyone in the online ‘show room’ can send virtual gifts to participants or the host. On receiving virtual gifts, dating participants gain experience points and a ‘status’ boost, while the host also takes a revenue cut. To engage users and encourage gift purchases, YY created bi-weekly charts ranking dating participants based on the value of virtual gifts.

The dating show recently rolled out a premium subscription in an attempt to add another monetization channel. Like subscriptions provided by other YY online social services or other Chinese internet companies, this subscription includes a wide range of privileges that can increase the users’ online social status.

YY was one of the first Chinese internet companies to develop this kind of dating show platform. The model has attracted a flock of competitors, including Tencent’s Huayang and BoBo by NetEase.

from TechNode http://ift.tt/24sXTDa

#Asia #China Didi And Uber Can’t Agree On Who Owns What In China’s Fierce Ride-Hailing Market

//

Digging up the correct figures on China’s ride-hailing market can be a challenge for onlookers, though it’s apparently also a struggle for the companies themselves.

According to Liu Zhen, the Senior Vice President of Strategy at Uber’s China division, the U.S.-founded company will overtake Didi Chuxing to become China’s top provider of private-car ride hailing services within 12 months.

“Last year we were only operating in eight cities with only a 1 percent market share,” she said at a Wall Street Journal conference on Friday, noting that the company has since accelerated to take over a third of the market.

True to the fierce competition in China’s ride-hailing market, Uber’s statistics are at sharp odds with how much of the market Didi Chuxing believes they own.

Just two days earlier, President of Didi Chuxing, Jean Liu, casually announced that Didi owns almost 90 percent of the country’s private-car ride-hailing market. “They’re [Uber] actually in the industries we are in which is the private car service, where we have [an] 87 percent market share,” said Liu in a conversation with Recode’s Kara Swisher and Walt Mossberg.

Didi Chuxing originally found dominance in securing the ride-hailing market for taxis, a market it now claims to own “almost 100 percent.” Taxi services aside, the two companies compete directly in virtually every other aspect.

The confusing myriad services run by both companies in China has further muddied the distinction between which company owns what in a landscape of varied ride-hailing options. Both companies operate carpooling services alongside private car and black car services. However each company is also working on a handful of initiatives, from Didi’s foray into bus services to Uber’s latest route-oriented carpooling service.

It’s also important to note that drivers in China are not necessarily loyal to neither service, using whichever option is most busy or profitable on the day. One Didi driver told Technode that while she earned more using Uber’s service per ride, she found herself often driving Didi passengers because they were more frequent, swapping between the two apps.

The two companies also disagree on another factor that lies at the heart of a successful China campaign: their relative abilities to phase out subsidies. Both companies have relied heavily on subsidized services to expand rapidly on the mainland, and the race is now on to see which service can successfully transition into a more sustainable model.

On Friday Ms. Liu noted that UberChina will break even in China “soon”, spending 80 percent less per trip it did a year ago. In March this year Uber CEO Travis Kalanick noted that UberChina will break even within two years, and that they are spending roughly a billion USD per year in the market. Didi Chuxing claims to be profitable in 200 of the 400 cities they currently operate in, noting that less mature markets receive higher subsidies than some of the company’s more mature markets.

Both companies continue to fundraise at a breakneck speed, funneling funds into subsidies as well as technology. Recently Uber’s global operation received a $3.5 billion USD boost from a Saudi Arabia’s Public Investment fund, some of which would be spent on UberChina’s operations Liu Zhen confirmed on Friday. Last month Didi Chuxing sealed a 1 billion USD investment from U.S. tech giant Apple as part of a larger fundraising effort.

 

from TechNode http://ift.tt/1U3UGZx

#Asia #China SoftBank’s Alibaba Stock Sale Tops $10 Billion

//

SoftBank, Alibaba’s top shareholder, said on Friday they will sell a further $1.1 billion USD worth of Alibaba shares, following an announcement on Wednesday that they would be selling upward of $7.9 billion worth of the e-commerce company’s stock.

The latest transaction brings the total value of the divested shares to $10 billion, which revises the value of the Wednesday sale to $8.9 billion.

It marks SoftBank’s first-ever sale of Alibaba stock since the company began investing in the e-commerce site back in 2000. SoftBank’s Masayoshi Son is a well known evangelist of the Alibaba cause, investing an initial $20 million 16 years ago, followed by a $60 million injection, for a stake that was valued at well over $40 billion at the time of Alibaba’s IPO.

The Japanese company says the reason for the sale is because of strong demand for Alibaba stock.

Alibaba’s shares debuted on the NYSE in 2014 at just over $93 apiece but took a beating during the Chinese stock slump beginning in mid-2015, sending their shares below $60 each. The company’s stock has rallied somewhat since February on new investments and stable sales growth, now sitting at just over $76.

Singapore sovereign wealth fund GIC and Temasek have confirmed the purchase of some of SoftBank’s divested Alibaba stock since Wednesday. Temasek is an existing investor in Alibaba.

The e-commerce company itself purchased 2 billion USD of the available stock at $74 each, which follows a $500 million buyback in February led by Alibaba Chairman Jack Ma and Vice Chairman Joe Tsai.

from TechNode http://ift.tt/1sUiMeJ