Top 10 mistakes made by Jack Ma

NO 1 Laiwang

In Sept 2013, laiwang, a messaging app created by Alibaba, was released. However, it did not see a satisfactory increase in users, especially when compared to the formidable WeChat of Tencent.

Early this year, reports claimed that Alibaba failed to purchase a similar instant messaging company momo, the latter was valued at more than $10 billion. In March, 2014, Alibaba invested in Tango, an US-based instant messaging app. It has been interpreted as a failure to develop its own app, laiwang.

Jack Ma Yun, Chairman of Alibaba Group, speaks at a press conference for Alibaba Groups new mobile-messaging app Laiwang at the headquarters of Alibaba Group at Alibaba Xixi Park in Hangzhou, East China's Zhejiang province, 21 November 2013. [Photo/IC]

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