Jack Ma Is Ahead of Jeff Bezos in Grocery Store Ambitions
- Alibaba has been incubating its Hema stores for two years
- At Hema, choose your lobster and have it cooked and delivered
Alibaba Tops 1Q Revenue, Earnings Expectations
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Jack Ma is ahead of Jeff Bezos in one area: grocery stores.
For years, it looked to some like Ma’s Alibaba Group Holding Ltd. was simply following in the footsteps of Bezos’ Amazon.com Inc., the world’s largest e-commerce company. Just like Seattle-based Amazon, China’s online shopping giant started a cloud-computing business and created original entertainment content. But when Amazon’s $13.7 billion bid for Whole Foods Market Inc. sent shockwaves across the retail industry, Ma looked prescient.