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The most expensive sake that Alibaba's Jack Ma ever had

The Alibaba chairman and Yahoo co-founder Jerry Yang take a trip down memory lane to talk about Yahoo’s blockbuster investment in the Chinese e-commerce giant.

This year marks the tenth anniversary of one of the most lucrative deals in tech history. In 2005, Yahoo co-founder Jerry Yang led Yahoo’s negotiations to buy a 40% stake in Jack Ma’s then fledgling Chinese e-commerce company, Alibaba, for $1 billion.

That stake is now worth over $20 billion.

On Thursday night, during an interview at Stanford University, the two executives took a trip down memory lane to talk about the blockbuster deal. Yang played the part of the interviewer while Ma answered his questions.

“It was a big risk when [Yang] put $1 billion into Alibaba,” said Ma, now Alibaba’s chairman. “We went back and forth over the terms, and almost ended the deal at one point.”

That night, to help...