Chinese celebrity, Jack Ma! Do you know what Jack Ma has been up to since his retirement?

Back in 2011, when Jack Ma was at the peak of his career, he was giving speeches globally. During one of his speeches in India, he shared the initial idea behind creating Alipay. A young fan in the audience was deeply moved and decided to create his own version of Alipay in India. Surprisingly, within a year, this fan founded Paytm, which flourished over the next five years. Ant Group even awarded him a 30% stake. Around 2018, it seemed that the domestic internet market was reaching saturation, with little room for further exploration. Consequently, internet giants began eyeing opportunities in other countries, and India became a prime target. Jack Ma not only invested in the Indian version of Alipay but also in Indian companies like Meituan. This led Chinese netizens to jokingly claim that Jack Ma had bought half of India's internet. This was around the time of Jack Ma's retirement, suggesting that India might be a strategic move he left behind after stepping down from Alibaba.

It's a common saying that what India earns, it spends. Xiaomi learned this lesson the hard way. But is Jack Ma also being taken advantage of in India? Upon learning about Jack Ma's extensive investments in India, the Indian government showed keen interest. After all, "milking foreign investment" is a profitable business in India. It wins applause from domestic nationalists and fills the government's coffers. For India, the generous Jack Ma is seen as "fresh blood." Traditionally, India employed tactics like raising taxes, freezing bank accounts, or imposing fines. However, dealing with Jack Ma, India implemented new foreign investment regulations, causing the Indian version of Meituan, in which Jack Ma invested $100 million, to face obstacles and the investment not being accounted for. It was a significant loss. But unlike Xiaomi, at least Jack Ma doesn't have substantial business operations in India, thus avoiding a heavier burden. Nevertheless, constantly being targeted by India is not a solution. Therefore, last year, Alibaba Group sold a 10.3% stake in the Indian version of Alipay. Perhaps Jack Ma wanted to step back, but given his intelligence, he is unlikely to miss out on any lucrative projects in the future.

Some netizens argue that Jack Ma did not actually buy half of India's internet. Although Alibaba Group (co-founded by Jack Ma) made some investments and acquisitions in India, it doesn't mean they've acquired half of India's internet. From an investment perspective, Alibaba Group has been seeking global expansion and considers India as a market with enormous potential. By investing and acquiring in India, Alibaba Group aims to gain more market share and growth opportunities while leveraging India's talent and technological resources to drive global business development.