By and  on July 15, 2014

TOKYO — Jack Ma, executive chairman and founder of Chinese e-commerce giant Alibaba Group, is known for thinking big and attendees at a business conference here got a sense of just how audacious his ambitions are: He wants to be bigger than Wal-Mart Stores Inc.

“I remember seven or eight years ago, maybe six years ago, I was drinking and chatting with a senior executive of Wal-Mart. I said that in 10 years, Alibaba’s sales revenues will surpass Wal-Mart’s. He said, ‘Young man, you have a vision, but take it slow. It will probably take at least 50 years.’ Today, we are getting closer and closer,” Ma said, speaking at a conference organized by Japanese telecom and technology company SoftBank Corp., which is also a significant Alibaba shareholder.

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