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Alibaba IPO: Jack Ma's Original Sales Pitch in 1999Alibaba is bullish on blockchain but bitcoin may be a bubble, according to the company's founder, Jack Ma. Ant Group Co.'s quarterly profit fell by 65%, dented by a one-time fine that signaled the end of China's yearslong crackdown on the tech. After founding Ant Group in , Chinese billionaire Jack Ma is now ceding control of the company as part of Ant's corporate structure.