Alibaba Group Holding Ltd, which revolutionised online shopping in China and debuted 15 years later with the world’s largest initial public offering (IPO), yielded a 200-fold return for Tam and his partners.
SHANGHAI: In 1999, Benson Tam decided to help out his buddy Joe Tsai and orchestrated a US$500, 000 (RM2.07bil) investment for his then-untested startup.
That company turned out to be Alibaba Group Holding Ltd, which revolutionised online shopping in China and debuted 15 years later with the world’s largest initial public offering (IPO), yielding a 200-fold return for Tam and his partners.
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