The workaholic Daniel Zhang is currently the CEO of Alibaba Group. Before taking up this post, he played a versatile role as the CEO of Taobao and the President of Tmall. He is also known to us as the creator of the Single’s Day shopping holiday, which is an annual Chinese sales event with a profit margin three times higher than the combined Cyber Monday and Black Friday. He assumed the office of Alibaba Group from 10th of September 2019.
Born in 1972, in Shanghai, he studied finance at the Shanghai University of Finance and Economics. He started to work for Barings Bank, a British bank after completing his graduation. He also worked for one of the former accounting firms of “Big Five” named Arthur Anderson during 1955-2002. Two years after this, he started to work at PwC.
It was in 2007 when he first joined an Alibaba Subsidiary named Taobao as its Chief Financial Officer. In the next year, he became Taobao’s, Chief Operating Officer. He became the President of Tmall in 2011 and during that time he launched the Single’s Day event.
Zhang kept on promoting to higher ranks because of his sheer intellect and team management capabilities. He eventually succeeded Jonathan Lu, the then CEO of Alibaba in 2015. On 10th of September 2018, Jack Ma announced that Zhang can take over as the Executive Chairman right from 10th September 2019.
There was a system of picking up nicknames for Alibaba e468mployees when they joined the company and so Zhang was credited with the nickname of “Free and Unfettered Person”.
Zhang always maintained his beautiful track record. He is also the face behind the biggest sales bonanza on the planet – Single’s Day, as already mentioned. Today, this Chinese event is now the world’s topmost and biggest retail event that brings around $25 billion for Alibaba alone. At present, Alibaba contains more than somewhat 140,000 brand taking part in this magnificent event.
Alibaba has attracted over 66 thousand of the smartest people of China. Well, not only that but today it is also the eCommerce giant that stands among one of the other top retail markets in Asia. Half of its revenue comes from International countries. This global expansion is due to four main reasons:
Connection of foreign merchants with Chinese consumers
Following Chinese consumers while they go abroad
Plan expansion of the platform across entire Asia and lastly being smart enough and opportunistic throughout
Presently, the UK is the third biggest market for Alibaba and the company holds a London-based team that is working to make the shopping interface easier for its consumers. Also, we find out that there were about 250 million buyers two years ago and if estimated, the consumer rate can expand to 2 billion by 2036.