~~~~TheNewYorkTimesOnly1
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At the resplendent China World Hotel in Beijing, scores of cameras snapped as colorful confetti floated down from the ceiling. It was Aug. 11, 2005, and this was the global coming-out party for Alibaba, the Chinese e-commerce upstart. After months of frantic negotiations, the American Internet giant Yahoo had agreed to invest $1 billion in cash and create deeper business ties, in exchange for a 40 percent stake in Alibaba.

Alibaba’s founder, Jack Ma, thin, energetic and standing just over five feet tall, was beaming. He gushed that it was China’s Valentine’s Day and this was a beautiful match: “You’d be foolish if you said no.” It was his coming-out party too; the partnership would pave the way for Alibaba to become an international juggernaut.

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!!!!!Alibaba1Greg Newbold
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