NEW YORK, June 17 (AFP): Chinese Internet giant Alibaba, the world's largest online retailer, on Monday disclosed details of its unusual "partnership" management in documents filed for its US stock offering.
The filing with the Securities and Exchange Commission names for the first time all 27 "partners" who steer the firm, which is often described as a Chinese version of Amazon or eBay.
"We believe that our partnership approach has helped us to better manage our business, with the peer nature of the partnership enabling senior managers to collaborate and override bureaucracy and hierarchy," the document said.
There are no fixed number of partners and it may vary as members come and go, it added.
The new details appear aimed at easing concerns over the US listing for Alibaba, the date for which has not been set.
"Our partnership is a dynamic body that rejuvenates itself through admission of new partners each year, which we believe enhances our excellence, innovation and sustainability," the filing said.
"Unlike dual-class ownership structures that employ a high-vote class of shares to concentrate control in a few founders, our approach is designed to embody the vision of a large group of management partners.
"This structure is our solution for preserving the culture shaped by our founders while at the same time accounting for the fact that founders will inevitably retire from the company."
The partnership grew out of a group gathered in founder Jack Ma's apartment in 1999 -- calling themselves "Lakeside Partners" at the time.
"We view our culture as fundamental to our success and our ability to serve our customers, develop our employees and deliver long-term value to our shareholders," the document said.
Alibaba lifts veil on \\\'partnership\\\' ahead of US IPO
FE Team | Published: June 18, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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