STARTUP MA
SoftBank invested $20 million in Alibaba in 2000. 14 years later, that tiny stake was worth more than $50 billion after its blockbuster IPO
In 2000, SoftBank’s Masayoshi Son invested $20 million in Alibaba, the Chinese online marketplace founded by Jack Ma. The company had little revenue, and investors had passed on Ma’s idea. Alibaba was also helped by a $1 billion investment from Yahoo in 2005. When it went public in 2014, its IPO raised $25 billion. SoftBank’s stake was worth tens of billions, making the bet one of tech investing’s standout deals.
Piyush Goyal to headline ET Startup Awards; The Souled Store eyes fundraise
Happy Tuesday! Meet our distinguished guest of honour for The Economic Times Startup Awards 2026. This and more in today’s ETtech Morning Dispatch.
Jeff Thomasson built a $38 billion firm from $20,000 debt and 1,000 client meetings a year, now gives $100 million to Indiana University
Jeff Thomasson has donated $100 million to Indiana University’s Kelley School of Business. Thomasson founded Oxford Financial Group at age 23 with $20,000 in graduate-school debt and went on to build the firm into a major wealth management business with more than $38 billion in assets under advisement. Reports hint that he built his client base by holding 1,000 meetings in a year.
SiMa AI raises $150 million in funding to advance physical AI technology and robotics
The round was co-led by Fidelity Management & Research Company and Amplify, with participation from Alter Venture Partners, Dell Technologies Capital and StepStone Group, founder and chief executive Krishna Rangasayee told ET. AllianceBernstein, Baron Capital and JPMorgan joined the round as new investors.
Quote of the Day by Jack Ma: ‘We are never short of money. We lack people with dreams, who can die for those dreams’ - Inspirational quote from Chinese philanthropist and co-founder of Alibaba
Jack Ma believes people with dreams are more crucial than money for business success. He argues that capital can be found for convincing ideas and capable teams. Extraordinary commitment, not literal sacrifice, defines those who pursue their ambitious goals. Alibaba's early history demonstrates the importance of employees holding their own dreams. This philosophy highlights conviction as a driving force, not just funding, for ambitious ventures.
Quote of the day by Jack Ma, 'I don't think I'm a workaholic. Every weekend, I invite my colleagues and friends to my home to play cards. And people, my neighbors, are always surprised because I live on the second floor apartment, and there are usually 40 pairs of shoes in front of my gate, and people play cards inside and play chess. We have a lot of fun' offers powerful life lessons on work-life balance, success, friendship, happiness, joy, positive mindset, acceptance, challenges popular idea that working harder is always the answer to achieving more
Quote of the day by Jack Ma words remain relevant. Success should not be measured only by how many hours someone works, how much money they earn or how impressive their professional title becomes. A richer definition includes the ability to enjoy relationships, make time for play and remain connected to the people who make life enjoyable.
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Sugar’s valuation slump; Slice takes a hit
Happy Friday! A91 Partners is backing Sugar Cosmetics in a round that will see the beauty brand’s valuation fall sharply. This and more in today’s ETtech Morning Dispatch.
ETtech interview: India’s semiconductor ambitions could take decades to mature — SiMa AI CEO Krishna Rangasayee
SiMa AI CEO says India’s push to build a globally competitive semiconductor industry could take decades, requiring more than fabs, including stronger supply chains, customer demand and capital. Krishna Rangasayee highlighted deeptech funding challenges and also said that SiMa plans to expand its R&D and go-to-market operations in India.
Tech pilgrims flock to China as global innovation race heats up
Investors and entrepreneurs are paying thousands of dollars for rare access to Chinese factories, seeking a front-row seat to what many believe could be the next technological revolution.
ET WLF 2026: AI driving shift in value creation
Artificial intelligence is making software development faster and cheaper. Value creation is expected to shift towards computing infrastructure and physical systems. India could benefit from this trend due to attractive power and data-center costs. Venture capital firms are becoming marginal investors in the AI investment cycle. Corporate balance sheets will increasingly fund AI companies alongside traditional investors.
ET WLF 2026: AI growth needs governance, financial discipline to stay sustainable
Industry executives highlight AI governance and financial sustainability challenges. Many AI uses currently lack revenue or profit pools, requiring future monetization. Companies are rushing into AI without adequate safety and regulation oversight. Unit economics are vital for enterprise AI applications and long-term profitability. AI is reshaping the talent landscape, necessitating reskilling and mental flexibility.
AI leaders on automation; PM Modi debriefs space startups
Business leaders at the Economic Times World Leaders Forum said AI agents can reshape work, but governance and human accountability remain crucial. This and more in today's ETtech Top 5.
Saturday Motivation Quote by Alibaba founder Jack Ma: 'If you're doing business, it's not that simple to only buy, you have to create something, you have to create something that…'
Jack Ma, Alibaba co-founder, inspires with his journey of overcoming rejection. His philosophy stresses creating new value for the future, not just trading. This means innovation over imitation. Businesses must build something that never existed before. Jack Ma's story highlights resilience and value creation. True entrepreneurship is about shaping tomorrow.
Quote of the Day by Alibaba founder Jack Ma: ‘The world needs new leadership, but the new leadership is…’
Jack Ma, Alibaba founder, believes new leadership requires working together. He highlights that progress stems from shared efforts and collective decision-making. Success depends on teamwork and adaptability. Effective leadership is built on unity, not control. This approach is vital in today's interconnected world.
DeepSeek unveils update to R1 model
DeepSeek has announced a minor upgrade to its R1 AI model, which previously stunned the tech world by outperforming Western competitors at a fraction of the cost. This news arrives shortly before Nvidia's latest financial report, whose shares were impacted by the initial R1 release. The upgrade follows founder Liang Wenfeng's rise to prominence and recognition from President Xi Jinping.
Kissflow's Suresh Sambandam launches Mudhal VC
"We are planning to invest close to Rs 125 crores in two phases over the next three-four years," Kissflow's founder and CEO Suresh Sambandam said.
AI chip startup Groq valued at $2.8 billion after latest funding round
The Silicon Valley firm, founded by a former Alphabet engineer, specializes in producing AI inference chips - a type of semiconductor that optimizes speed and executes commands of pre-trained models.
Chip startup SiMa raises $70 million to quicken AI on cars and robots
SiMa.ai raised $70 million from Maverick Capital, Point72, Jericho, Amplify Partners, Dell Technologies Capital, and Fidelity Management. The startup designs chips for AI applications in consumer devices to process data into different content forms for a future where AI is mainstream.
Silicon Valley AI chip startup SiMa.ai hooks key investors
This is at least the third investment in US chip startups by VentureTech Alliance in the past month. In May, VentureTech invested when Ayar Labs raised another $25 million and Ethernovia raised another $64 million.
Jack Ma reveals the number one mistake start-up founders make
China's richest man feels that start-ups should focus more on value than on money.
Stellaris, Fosun and others fund Lithius Energy
“Making shared mobility work reliably at scale, while keeping it affordable and convenient, is a massive technology problem. We spent many months building the dynamic routing algorithm,” Gautam Patil, cofounder of Loca, said.
How Jack Ma made rich capitalists acceptable in Communist China
Ma's success created a model which gave rise to a technology industry that rivals the Silicon Valley.
How Jack Ma became the role model for China's startup generation
His vision changed China. As Ma makes plans to leave Alibaba Group Holding Ltd., his legacy will be an enduring one.
Ma & Son may team up to Grab a $1.5 billion investment ride
The Ma investment, which may come from either Alibaba Group Holding or payments affiliate Ant Financial, would bring his competition with arch rival Tencent Holdings to Southeast Asia.
Jack Ma sees decades of pain as internet upends old economy
Alibaba shares have outperformed this year on expectations it can withstand efforts by rivals such as Tencent Holdings Ltd. to capture digital ad spending and muscle in on its turf.
Family offices of Alibaba's Jack Ma and Joseph Tsai exploring investments in India
While their personal investment vehicles are yet to park money in Indian startups, feelers have been sent through informal networks.
Jack Ma told us to build a company worth a Nobel Prize: Vijay Shekhar Sharma
The Paytm CEO took to Twitter to share pictures of his interaction with the Alibaba founder at his company's board meeting in China.
Malaysia’s MaGIC, Singapore’s Fundnel woo Indian startups
Malaysian Global Innovation and Creativity Centre (MaGIC) will be picking out startups in India for its four month-long accelerator programme.
Kshitij Karundia and Guru Gowrappan: Meet the Indians behind Alibaba’s tryst with India
The two men are part of a triumvirate that has been assembled by Alibaba to chart out its investment strategy for India.
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