Alibaba Group’s Founder – Jack Ma
It takes a rare person to accumulate a total net worth over $20 billion through a devoted work ethic while maintaining a sense of perspective. The Alibaba Group’s Founder – Jack Ma is one of the world’s leading e-commerce web portals, and he is also one of the world’s richest men. In this blog we have decided to look back at the inspiring journey of Jack Ma, Which will always push you to follow your dreams. He opted bussines and internet marketing for his carrier.
Jack Ma was born in Hangzhou, Zhejiang Province in China. His parents were traditional musician-storytellers. At an early age, Ma had a desire to learn English, so he rode his bicycle every morning to a nearby hotel to converse with foreigners. He use to guide them around the city for free in order to improve his English. He carried this system for nine years. He became good friend with all these foreigners, and they nicknamed him “Jack”, because his real Chinese name was too difficult to pronounce.
Later in his youth, and although he failed the university entrance exam three times, Ma attended Hangzhou Teacher’s Institute (currently known as Hangzhou Normal University) and graduated in 1988 with a bachelor’s degree in English. While at school, Ma was elected student chairman. He became a lecturer in English and International Trade at the Hangzhou Dianzi University and later enrolled at Beijing-based Cheung Kong Graduate School of Business , graduating in 2006.
Alibaba Group’s Founder – Jack Ma is married to Zhang Ying, who he met while studying together at the Hangzhou Normal University, and wed right after graduation. She is Chinese and has constantly supported him in all his business related ventures. It was with the help of Zhang that Jack established his first company by investing in USD 20,000 and later on Alibaba. She is also involved in supporting many charities and organizations which stand for various social and environmental causes. To these she has made many donations, in millions too.
What made jack curious to work on internet?
Jack Ma applied for 30 different jobs and got rejected. He went for a job in police and they replied that he is not good for police . Then, he went to KFC when it came in his city. Twenty-four people went for the job. Twenty-three were accepted. He was the only guy who got disappointed.
In 1994, Ma heard about the Internet. In early 1995, he went to the US with his friends and where he got introduced to the Internet. During his first encounter he searched the word “beer”. Although he found information related to beer from many countries, but he was surprised to find nothing from China.
Further, he tried to search for general information about China and again was surprised to find nothing. So he and his friend created an “ugly” website related to China. Within five hours of creating the website he had received an email from some Chinese wishing to know about him. This was the time when Ma realized that the Internet had something great to offer.
How he planned his future?
In April 1995, Ma, his wife and a friend collected $20,000 and started an Internet company. Their company was mainly dedicated to create websites for other companies. He named their company “China Yellow Pages.” Within three years, his company had made 5,000,000 Chinese Yuan which was equivalent to U$800,000.
Ma began building websites for Chinese companies with the help of friends in the US. From 1998 to 1999, Ma headed an information technology company established by the China International Electronic Commerce Center, a department of the Ministry of Foreign Trade and Economic Cooperation.
What is Alibaba?
Alibaba Group Holding Limited is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. It also provides electronic payment services, a shopping search engine and data-centric cloud computing services. The group began in 1999 when Jack Ma founded the website Alibaba.com, a business-to-business portal to connect Chinese manufacturers with overseas buyers.
How he founded Alibaba?
In 1999, he left the chinese company and returned to Hangzhou to found Alibaba, a China-based business-to-business marketplace site with his 17 friends. He started a new round of venture development with 500,000 yuan. Alibaba serves more than 79 million members from more than 240 countries and territories.
In October 1999 and January 2000, Alibaba twice won a total of a $25 million international venture capital investment. Ma wanted to improve the global e-commerce system and from 2003 he founded Taobao Marketplace, Alipay, Ali Mama and Lynx. After the rapid rise of Taobao, eBay offered to purchase the company. However, Ma rejected their offer, instead the support from Jerry Yang co-founder of Yahoo with a $1 billion investment.
The Alibaba Group’s Founder – Jack Ma became one of the most valuable tech companies in the world after raising $25 billion, the largest initial public offering in US financial history.
Ma now serves as executive chairman of Alibaba Group, which is a holding company with nine major subsidiaries: Alibaba.com, Taobao Marketplace, Tmall, eTao, Alibaba Cloud Computing, Juhuasuan, 1688.com, AliExpress.com and Alipay. In November 2012, Alibaba’s online transaction volume exceeded one trillion yuan.
In 2015 he was honoured with the entrepreneur of the Year award at The Asian Awards.
In 2014 he was ranked as the 30th most powerful person in the world in an annual ranking published by Forbes.
Ma was thus named “trillion Hou”, meaning literally “Trillion Yuan Marquis” in Chinese.
Wonderful Experience of jack ma
1. He Unites People under a Single Goal
Ma understands that no matter how hard you try you will never be able to convince every single employee, business partner, and potential investor to trust you or believe what you say. Accepting that and changing your approach is another key to his massive success. Rather than uniting his company under the vision of one person, he unites them under a common goal. The vision is more important than the leader.
2. He has Foresight
Jack Ma believes that a good leader should have foresight. He should try to stay one step ahead of the competition and anticipate how decisions will play out ahead of other people. Taking time to develop creative thinking skills and following informed intuition is a hallmark of any great business leader.