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End of an era for Alibaba as China’s corporate icon Jack Ma retires at 55
By K J M Varma
BEIJING: Jack Ma, China’s iconic billionaire and founder of Alibaba, retired on Tuesday as the executive chairman of the e-commerce giant on his 55th birthday, marking the end of an era for his firm in the Communist country.
Born to a poor family, Ma, who is the most revered businessmen among the Chinese people, grew up to become China’s richest man.
Ma co-founded Alibaba in 1999 that became one of the world’s biggest internet firms.
Alibaba, which has multitude businesses, is now valued at USD 480 billion and Ma was listed by the Forbes magazine last year as China’s richest man, with a net worth of USD 39 billion.
Ma had made the surprise announcement of retirement last year, sending shockwaves in his company as well as business circles of the world’s second largest economy.
He named the company’s Chief Executive Officer, (CEO) Daniel Zhang as his successor while he would continue to be company’s Director.
“I think it will be very hard to replace somebody like Jack Ma,” Rebecca Fannin, author of a book on China’s technology titans, said.
“He is one of a kind. He is the Steve Jobs of China, ” Fannin was quoted as saying to the BBC.
Ma’s retirement announcement last year sparked off speculation that he may be stepping down due to prevailing business environment in China.
The New York Times in its report soon after the announcement of his retirement last year said Ma is retiring as China’s business environment has soured, with Beijing and state-owned enterprises increasingly playing more interventionist roles with companies.
However, Ma refuted the report saying that “gossip has been around us every day for the past 19 years. For someone who has a dream for the future, gossips, rumours, hardships and frustrations will always be part of your life.”
“To friends, you don’t need to explain. To non-friends, the more you explain, the worse the situation becomes,” he said.
He sought to justify his retirement plan by saying that he would like to relax and take up cultural and philanthropic activities.
In a quote, which went viral around the world, Ma said he would rather die at a beach than his work table at Alibaba.
“At the age of 54, I am a bit old in the Internet industry, but quite young for many other sectors,” he said.
“In the next 15 to 16 years, there’s still a lot of things I can do. I know it would be difficult for people at the age of 55 or 56, say 60, to leave. By then you would no longer be sure about your future, and you would hang on,” he said.
Ma’s retirement comes in the backdrop of Alibaba’s big plans to step up its investments in India, especially in commerce to compete with well-entrenched giants like Amazon.
“I was always impressed with his understanding of the Indian tech sector and he has great respect and regard of India. His investments in India have opened the way to combine the strengths of Indian and Chinese tech companies,” Atul Dalakoti, Executive Director of Federation of Indian Chambers of Commerce and Industry (FICCI), China, told here.
“Ma has the capability to see complex things in a very simple fashion. He had built Alibaba into one of the greatest companies in China,” he said.
Dalakoti also noted that Alibaba’s affiliate company Ant Finance was also doing well and could become the greatest Chinese company in Fintech.
Though immensely popular among Chinese specially the middle classes, his retirement has not been highlighted much in the official media here.
Reports last year said he was a member of the ruling Communist Party of China (CPC) like most of the Chinese celebrities.
Ma is a strident defender of the Chinese President Xi Jinping, regarded as the most powerful leader heading the party, the presidency and the military under whose leadership the government has expanded its controls over business.
Ma told BBC last year “if they (Facebook or Twitter) come here they have to say OK, I follow the Chinese rules and laws”.
But he quickly added that “I’m not in government, I cannot speak on behalf of the government.”
Ma’s success and colourful style has made him one of China’s most recognisable businessman.
A recent report in the state run Global Times said despite rising concerns about Alibaba’s business potential in the post-Ma period, Chinese experts said they believed in the company’s preponderance over domestic competitors.
They also believed more Alibabas and more Jack Mas will emerge in China, thanks to the country’s opening-up and rising innovation.
“Ma’s position as Alibaba’s spiritual leader would not change even after Tuesday, Liu Xingliang, director of the Beijing-based Data Centre of China Internet, told the Global Times on Monday.
“His influence will remain and he will still steer Alibaba in the company’s general strategy and business direction,” he said.
“Companies like Alibaba can pop up only under the condition of opening-up,” Ye Hang, an economics professor at the College of Economics of Zhejiang University, told the Global Times.
“How can such private businesses start and grow, even beyond the border, in a planned economy?” he said.
Zhang Yi, CEO of Shenzhen-based iiMedia Research, said, “Ma is also a hero produced by the times”.
Source: Press Trust of India
NEW DELHI: Yotta Data Services, an end-to-end Digital Transformation service provider, has announced that its state-of-the-art data centre facility, “Yotta G1”, located in GIFT city, Gandhinagar is ready for service (RFS).
The opening of this data center marks the debut of Yotta in Gujarat and progresses the company’s mission to provide digital services in India’s high-growth markets.
G1 is Yotta’s fifth data center facility in the country. It joins four large operational data centers, two of which, at Navi Mumbai and Greater Noida are part of hyperscale campuses. Yotta G1 is uniquely located inside the International Financial Services Center (IFSC) zone of Gandhinagar’s Gujarat International Finance Tec-City (GIFT city).
G1 represents an investment of more than INR 500 cr. over five years across critical non-IT and IT / Cloud / AI compute infrastructure. The data center has a capacity of over 350 high-density racks and 2 MW power (which can be scaled further as per demand). The facility is designed to meet the most demanding digital needs of its customers, who may be located within GIFT City or anywhere in the world, by seamlessly delivering fault-tolerant facility infrastructure, high-performance Cloud compute and storage infrastructure, advanced physical and cyber security, unmatched connectivity, and steadfast sustainability.
For large global enterprises operating in the GIFT City IFSC zone, the G1 data center functions as a potential data embassy, whereby their data stored is subject to the laws and regulations of their home country, thus allowing them to maintain sovereignty over their data, even when stored in India. By storing data in a physically different location, global enterprises can ensure continuity of operations in case of major disruptions within their borders. The data center’s location also ensures compliance with the IFSC regulations, providing businesses in the zone with distinct advantages like free foreign exchange convertibility, a liberalised regulatory environment, and business-friendly policies. It also helps enterprises adhere to IFSC’s compliance requirements, including being mandated to host their data within the IFSC zone.
Commenting on the announcement, Darshan Hiranandani, Co-founder and Chairman, Yotta Data Services, said, “The state of Gujarat, with GIFT City, has been at the forefront of providing a viable and sustainable platform for global businesses to set up base in India. The setting up of the IFSC zone is a further testament to their vision for financial services companies. We are proud to support this vision of the Gujarat government with a state-of-the-art data center within the IFSC zone, providing the latest and best in cutting-edge technologies to help businesses set up and scale their businesses while also adhering to all regulatory requirements.”
Adding to this, Sunil Gupta, Co-Founder, MD & CEO, Yotta Data Services, said, “Yotta’s G1 marks a pivotal milestone in delivering high-end data center, Cloud, AI compute, storage, connectivity and cybersecurity services to enterprises both on a global and local scale in the Gujarat region. Besides serving the domestic enterprises within and outside GIFT City, our data center shall serve as a potential data embassy for global enterprises, enabling them to adhere to their respective country’s laws while offering a dependable and secure locale for offshore data storage.”
G1 data centre stands distinct in GIFT city for being a data center offering more than just colocation services. True to Yotta’s stature as the end-to-end digital transformation partner of choice for enterprises, G1 brings forth a suite of key features, ranging from advanced data security and customised business solutions to an indigenous hyperscale cloud offering, AI-GPU compute offering, state-of-the-art infrastructure, cybersecurity expertise, seamless integration with managed IT services, 24/7 customer support, cost optimisation, and an overall competitive edge.
This announcement follows on the heels of Yotta’s recent launch of its cloud services – Shakti Cloud and Yntraa Cloud. Powered by NVIDIA’s top-of-the-line GPUs, Shakti Cloud is India’s largest & fastest AI-HPC supercomputer, delivering cutting-edge GPU computing infrastructure, platforms, and services, including Infrastructure as a Service, Platform as a Service, and Software as a Service. Yntraa Cloud, on the other hand, is a truly indigenous hyperscale cloud platform at par with global cloud platforms, offering an exhaustive range of cloud products and services.
NEW DELHI: Domestic contract manufacturer Optiemus Infracom has entered into a joint venture with US-based speciality glassmaker Corning International to set up India’s first manufacturing facility for producing high-quality finished cover glass parts for the mobile consumer electronics industry.
The collaboration between both the companies will help expand India’s electronics manufacturing ecosystem, as the Indian government strengthens its Make in India initiative. As a part of the joint venture, the companies strategically aim to set up a world-class manufacturing facility in India, powered by cutting-edge technologies and processes.
Driven by a shared commitment to innovation and technological excellence, this collaboration will pave the way for the manufacturing of “Made in India” finished cover glass parts for use in mobile consumer electronic devices, and other cover glass applications, to meet the needs of next-generation mobile consumer electronic devices.
The joint venture signifies a powerful synergy between Optiemus’s deep domestic industry and manufacturing knowledge of electronics and telecom market and Corning’s globally-acclaimed expertise in advanced glass technology. By combining these strengths, the joint venture aspires to not only establish cover glass manufacturing capabilities and capacity in India, but also to contribute significantly to the creation of jobs and skill development within India’s thriving technology sector, the companies said in a statement.
Ashok Kumar Gupta, Chairman, Optiemus Infracom, said, “It is a matter of great pride for us to actively contribute to the growing manufacturing ecosystem in the country. With this joint venture, initiated in line with the vision of Hon’ble Prime Minister of India of ‘Make in India’ programme and the “Atmanirbhar Bharat” initiative, we are committed to make available world-class high-quality products for global and local brands.”
“Embarking on this new journey, we intend to emerge as one of the top manufacturers of finished cover glass parts for use in mobile consumer electronic devices in the next five years. Our collective expertise in innovation, design, and manufacturing, will provide holistic solutions for the brands,” Gupta added.
NEW DELHI: Chipset maker MediaTek, which claims to power more than two billion connected devices every year, hosted ‘Catch-up with Tech’ in collaboration with handset brand Infinix on August 28 to share insightful and engaging conversations about the new-age smartphones and innovative technologies powering everyday lives.
The meet-up threw the spotlight on the MediaTek Dimensity Auto, Satellite solutions and Generative AI along with an extensive showcase of newly-launched Infinix Zero 30 5G powered by MediaTek Dimensity 8020, Infinix GT 10 Pro powered by MediaTek Dimensity 8050, and Infinix QLED TV powered by MediaTek.
In terms of specs, the Infinix Zero 30 5G is tailored for young storytellers and creators, featuring the first-ever smartphone to deliver 4K 60fps video recording from its 108 MP OIS rear camera and ultra-high resolution 50MP front camera. The Zero 30 series powered by MediaTek Dimensity 8020 is said to be a game changer for the front camera vlogging experience along with being the slimmest curved AMOLED smartphone in the segment with glass and a vegan leather back panel. It also claims to be one of the most premium-looking devices in the segment.
The event witnessed a panel discussion moderated by Anuj Sidharth, Deputy Director Marketing & Corporate Communications, MediaTek and included expert panelists from Infinix, MediaTek and two renowned professional photographers.
“With the fifth edition of Catch-up with Tech, we aim to bring consumers closer to the technology and enable them to make informed buying decisions based on their diverse needs. In collaboration with Infinix, this meet-up is in-line with MediaTek’s vision of technology democratization and making innovative technology accessible to everyone,” said Anku Jain, Managing Director, MediaTek India. “The MediaTek Dimensity 8020 in Infinix Zero 30 5G brings faster displays, brilliant cameras and ultra-fast performance. Further, MediaTek Imagiq technologies enrich the capture experience by combining dedicated AI, imaging processors and accelerators to provide incredible results,” he added.
Anish Kapoor, CEO, Infinix Mobile India, said, “Featuring India’s first 50MP 4K 60 fps video recording, Infinix Zero 30 5G is primed to redefine smartphone imaging capabilities, setting a new standard for the creators and vlogging enthusiasts. Our collaboration with MediaTek has played a pivotal role in shaping our exceptional smartphone portfolio, and the Zero 30 5G stands as evidence of our unwavering commitment to innovation and delivering unmatched experiences to our users. The display and design of the device represent a leap forward in smartphone technology. As Infinix Zero 30 5G hits the shelves, we are positive that our customers will find this new offering as exhilarating as we do, further empowering creators to capture their story like never before.”
Radhakrishnan Chakyat, a photography evangelist, founder and host of Pixel Viilage, said, “Infinix Zero 30 5G smartphone powered by MediaTek Dimensity 8020 chipset has amazing hardware features, an excellent camera, dual-view video mode and is primed for optimal content creation and saves a tremendous amount of editing time.”
Aarzoo Khurana, a wildlife photographer, said, “Over the last few days, I clicked various pictures and recorded a few videos with the newly-launched Infinix Zero 30 5G powered by MediaTek Dimensity 8020, and the experience has been truly inspiring. Infinix’s smartphone’s OIS feature helps content creators click shake-free pictures and the front camera, which is extremely sharp and detailed, enables content creators to click countless selfies.”
