Alibaba’s Jack Ma Criticizes PaiPai
Alibaba president and CEO Jack Ma told media in Hangzhou on Tuesday that Taobao's bid ranking service "Zhao Cai Jing Bao" failed due to inadequate preparation, inefficient communication, and problems caused by competitors. However, Ma said Taobao may relaunch the service after improvement. Taobao stopped the service after 61 percent of Taobao users voted against the service. Ma said Taobao president Sun Tongyu and Tencent (0700.HK) CEO Pony Ma argued in early 2006 because Tencent's C2C site Paipai has many employees from Taobao. According to Ma, Paipai's biggest problem is lack of innovation because everything is copied.