Alibaba, With Its I.P.O., Mints Millionaires and Risk-Takers | NYTimes.com


Traditionally dependent on manufacturing, Hangzhou, a city of six million people, has been embracing the high-tech sector.

Local Communist Party officials have been aggressively promoting the city as a magnet for start-ups through special economic zones, high-tech incubator centers and low-cost capital to young entrepreneurs. Mr. Lai, the former Alibaba product manager, pulled together $81,000 for his company, supplementing his own funds with money from an angel investor and a no-interest loan from the local government.

via Alibaba, With Its I.P.O., Mints Millionaires and Risk-Takers – NYTimes.com.

Advertisements

Comments

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s