Part 2/11:
Founded in 1999 in a small Hangzhou apartment by Jack Ma and his co-founders, Alibaba started as a modest B2B online marketplace. At that time, China's internet user base was less than 10 million, posing a significant challenge for any digital venture. Recognizing the threat of competitors like eBay entering China, Alibaba launched its consumer-facing platform Taobao in May 2003, which quickly became a dominant force. Within just two years, Taobao achieved market dominance in China, leading eBay to exit the country shortly thereafter.