Pony Ma on Conglomerate Strategy

1 INDEXED REFERENCES2026–20261 SHOWN FREE

Building or holding a multi-industry group whose diversity is itself the strategy.

SELECTED REFERENCES

2026 · Investor/Pass Founder Ledger

Group 3 - Internet 1.0 — Group Context

Ding Lei belongs to Group 3 - Internet 1.0. The Internet 1.0 group covers founders who built China's first generation of consumer-internet platforms in the late-1990s and early-2000s dot-com era — search (Baidu), e-commerce (Alibaba), portals (Sohu), gaming and portals (NetEase, Tencent), security software (Qihoo 360), and smartphones-plus-software (Xiaomi) — a cohort shaped by the 2001 WTO accession and the PC-to-mobile transition.

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