Alibaba Ceo Tells Staff to Forget About Share Price, Focus on Job

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Alibaba CEO tells staff to forget about share price, focus on job - FT.com

http://www.ft.com/intl/cms/s/0/bd20cdd8-4b26-11e5-9b5d-89a026fda5c9...

August 25, 2015 2:20 pm

Charles Clover in Beijing

Shar  e 

Aut al t  hor er s

Prnt i Clp i G itAr i e f tcl

Com m ent s ©Bloomberg

Alibaba chief executive Daniel Zhang has told employees to “forget about the share price” and focus on their jobs as the group’s stock sank below its initial public offering price of $68 for the first time.
Technology stocks have been hit by the market turmoil in China. But while US companies such as
Apple have seen their share prices recover, Alibaba’s have continued to languish.
Following a record-breaking listing on the New York Stock Exchange in September that raised $25bn, Alibaba’s share price rose to $119 in November but since then has dropped as low as $58.14 before closing at $65.86 on Monday.
Many of Alibaba’s employees are shareholders and the share price fall has hit morale hard. But Mr
Zhang delivered a stern reminder to employees on Tuesday to take a long view of the company’s prospects. 1 of 3

8/25/2015 2:25 PM

Alibaba CEO tells staff to forget about share price, focus on job - FT.com

http://www.ft.com/intl/cms/s/0/bd20cdd8-4b26-11e5-9b5d-89a026fda5c9...

“Alibaba’s values are reflected in the pursuit of our dreams and to create value for our customers.
Our values do not waver with the fluctuations in stock price,” he said.
“Let us remember to keep our eyes on the true prize, which is serving our customers . . . Serving our customers is the path to success to creating value for our shareholders and ourselves,” he continued. He added that Alibaba is “fighting just this one battle; we are in it for 102 years to win the war”, referring to founder Jack Ma’s speech last year in which he said the company would…...

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