Alipay (the subsidiary of Ant Financial Group) is probably the most well-known name in China. Chinese use this application several times a day: they pay through its QR scanning payment or manage their asset through its mutual fund – Yue’bao. But unlike its hot creation, Ant Financial was pretty much forgotten by the public. Born in 2004, it evolved from a small department of Taobao that housed only a handful of employees doing settlement work using the simplest spreadsheet of those days. Within a decade, it has established itself as the most valued internet finance enterprise in China transforming the entire financial industry with its massive data and powerful technology. The book tells of Alipay’s journey from “nobody” to the most widely-used payment system, and also records significant stages in its evolutionary history. The book also provides abundant reference and inspiration on entrepreneurial thinking, business concept, corporate culture, operating mode and personnel philosophy.
The social network has become so important in people’s lives that it has changed many of our habits. We automatically take photos of parties and upload them to our social media accounts; we enjoy commenting on Weibo as we watch television dramas; we refer to the rating from our friends before we purchase an item or go to a new restaurant. We express our opinions more, from what we have seen or experienced to the latest news and hot topics. We are bombarded by thousands of pieces of information every day. We have an impact on the lives of our friends as they have on ours. These subtle changes, when they have reached a certain maturity, will lead to a transformation. The media industry stands in the breach. People become feverish microblogging audience every time an important event occurs, and the ability to present information seems to flow from media to ordinary users at high speed. Next comes the transformation of marketing, as people are more likely to influence and be influenced by others. Massive user numbers and profits are generated in the vast social network that attracts a growing number of enterprises and start-ups to capitalise on the emerging opportunity.