If investors were expecting a big fight between Alibaba Group Holding Ltd BABA founder Jack Ma and Amazon.com, Inc. AMZN founder Jeff Bezos, they might be disappointed.
Alibaba commands the Chinese online retail market with impressive results and a notable sales holiday, known as Singles Day, that surpassed Black Friday in 2014. The company is expected to eventually turn its holiday (which is a celebration for those who are single) into a worldwide phenomenon. If successful, it could easily become the biggest shopping day of the year and permanently replace Black Friday and Cyber Monday.
That can only happen if Ma intends to take on Bezos, however.
"I don't think that Jack Ma wants to come here and fight Jeff Bezos and the Amazon business model," Cody Willard, chairman of Scutify (a financial social network), told Benzinga. "It would be too expensive and neither company would win. The consumer would win but the companies would suffer tremendously. I think Jack Ma knows that."
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Posted In: ExclusivesTechAlibabaAmazonBlack FridayCyber Mondayhome depotJack MaJeff BezosLowe'sSingles DayWal-Mart
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