Alibaba Group is a Chinese multinational conglomerate specializing in e-commerce, retail, cloud computing, digital media and entertainment, Internet, AI and technology. Founded April, 1999, the company provides sale services via web portals, as well as electronic payment services, shopping search engines, and cloud computing services. Alibaba has agreed to acquire a 33% equity stake in Ant Financial, a company that provides payment and financial services to consumers and merchants on our platforms. It was founded by 18 founders, with the most notable one being Jack Ma.
Jack Ma is our lead founder and, since May 2013, has served as our executive chairman. From our founding in 1999 until May 2013, Jack served as our chairman and chief executive officer. He is also the founder of the Zhejiang-based Jack Ma Foundation. Jack currently serves on the board of SoftBank Group Corp., one of our major shareholders and a Japanese corporation listed on the Tokyo Stock Exchange. He is also a member of the Foundation Board of the World Economic Forum, chairman of the Zhejiang Chamber of Commerce, as well as chairman of the China Entrepreneur Club. In January 2016, he was named a Sustainable Development Goals (SDGs) advocate by the United Nations. Jack graduated from Hangzhou Teacher's Institute with a major in English language education.