TechNode has been organizing the annual “China Bang Awards” since 2011. Over the past few years, TechNode has witnessed a large number of emerging startups grow into unicorns. For the upcoming ChinaBang Awards 2018, TechNode has started a special report to review the history of China Bang Awardees.

In May 2003, Alibaba’s e-commerce platform Taobao went online. Alibaba received some calls on their hotline but had few transactions on Taobao. Most customers had never used an e-commerce platform before and weren’t willing to pay before they received the goods, nor ready to ship products before chitchat with customers. Founder of Alibaba, Jack Ma, was vexed by the mistrust on both sides of the deal.

Alipay was born in Davos. “When I was in Davos, I suddenly had an inspiration,” says Ma. He recalled that he was so excited and called one of his colleagues. “You go for it right now. If something goes wrong with the product that breaks the law, even leading to prison, then I will take the blame. ”

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Wang Chan

日常敲键盘,全职包打听。 wangchan@technode.com