Jack Ma's Alibaba was once China's answer to Silicon Valley giants – but its turnaround plan appears to be in trouble

• Alibaba might not be Asia's top tech company anymore.
• The Chinese giant founded by Jack Ma is struggling to restructure, the Financial Times reported.
• Its problems mean Alibaba, once worth more than $800 billion, may be vulnerable to hungry rivals.

At the start of the decade, Alibaba was crowned Asia's most valuable company – but it now appears to be in crisis mode.