Jack Ma retired from Alibaba, the Company he built 20 years ago, on September 10th 2019 as its Chairman. Ma announced last year he would retire from Alibaba in September 2019.
Jack Ma co founded Alibaba in 1999 as a B2B marketplace site, at his apartment in Hangzhou, China. Alibaba Group Holding Limited is now one of the biggest and most valuable companies in the world. The Company owns and operates businesses in numerous sectors around the world. With a market value of $ 420 million, Alibaba made Jack Ma one of the richest people in China, with a net worth of $ 35.6 billion. He is also considered one of the wealthiest and most powerful people in the world.
Jack Ma decided to retire from Alibaba in order to pursue educational and philanthropic work. Daniel Zhang, who is the CEO of the Company since 2015, will step into Jack Ma’s shoes as the executive chairman of Alibaba.
To bid farewell to Jack Ma, the Company held a four hour celebration at an Olympic sized stadium in Hangzhou with a capacity to accommodate 80,000 people. Jack Ma, who is known for his colorful personality and performed at a Chinese music festival, did not disappoint anyone this time either. Ma, dressed as a rockstar with a fake wig and holding an electronic guitar, gave a powerful performance in front of his employees.
Speaking about his retirement at the event, Jack Ma said, “After tonight, I will start a new life. I do believe the world is good, there are so many opportunities and I love excitement so much, which is why I will retire early.”
Even though Jack Ma retired from Alibaba as its Chairman, he will stay on the Company’s board till 2020 and will remain a lifetime partner of Alibaba Partnership.
Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.
India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.
This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.
PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.
Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.
PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.
In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.
Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.
In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.
Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.