Jack ma is the Executive Chairman and founder of one the largest e-commerce company, Alibaba group. He is one of the leading entrepreneur in the China and Asia. In the Forbes List of “The World Billionaires 2017” he is ranked 23rd.
Jack Ma was born in 1964 Hangzhou, China. He was named as Ma Yun. Ma started learning English language from the young age and guided many tourists (foreigners) across the city. It improved his English and he came in the close vicinity to many foreigners who named him ‘Jack’ as it was easy for them to pronounce. Then, professionally, he started knowing as Jack Ma.
College days were hard for Jack Ma as it took four years to him, to clear his Chinese Entrance Exam which came once in a year. In 1988, he was graduated with B.A., English and then, became an English lecturer at Hangzhou Dianzi University.
According to Jack Ma, “Greatest failure is giving up”. His early career was full of thorns of failure. He applied in approximately thirty jobs but got rejected in all. He told in one of his interview that he was the one who got rejected by the KFC, among twenty-four job applicants.
Jack Ma applied for Harvard, ten times but got rejection. He was called ‘crazy’ by his fellow mates since he had unique thinking and ideas. But he never tried to settle down to find some normal job.
When he encountered internet, he considered it one of the magnificent thing. In 1995, he went to US and with the help of his friend he created a website related to China. He got a very good response and he understood the hidden potential of internet to bring some changes in China.
In April 1995, Jack Ma along with his wife and friend started their own company named “China Yellow Pages”. This company was responsible for making websites for the other companies. They started making money of approximately 800,000 USD within first three years.
ESTABLISHMENT OF ALIBABA
In 1998, he bestowed an Information Technology Company which came under China International Electronic Commerce Center. But in 1999, he quit his job and founded Alibaba group with his eighteen friends. Alibaba was established to provide China an e-commerce business website. It consists of consumer-consumer, business-consumer and business-business sales via web portals.
Initially, for his company he received an investment of $25 million foreign venture capital. Their company mainly focused on improving the SMEs (Small and medium sized Enterprises). Jack Ma wanted to boost global e-commerce thus, he created Taobao Marketplace, Alipay, Ali Mama and Lynx.
In 2014, Jack Ma raised $25 billion on the New York Exchange and made Alibaba Group one the most important and valuable e-commerce company.
Recently on 8th September 2017, Jack Ma celebrated 18 glorious years of Alibaba Group. He also danced as a famous dancer, Michael Jackson.
- 2004: Jack Ma appeared in the list of “Top 10 Business Leaders of the Year” by China Central Television.
- September, 2005: World Economic Forum, a Swiss non-profit foundation, elected him ‘Young Global leader’.
- 2007: Fortune Magazine listed Ma in the “25 Most Powerful Businessperson in Asia”.
- 2008: American weekly Newspaper, Barron’s published his name in the ‘World’s Best CEOs’.
- May 2009: Time’s Magazine selected Jack Ma as world’s 100 most powerful people.
- November, 2012: Alibaba’s online transaction reached up to one trillion Yuan (currency of China).
- 2014: Forbes published its annual ranking and mentioned the name of Jack Ma in ‘30th most powerful person in the world’.
Jack Ma met his wife in Hangzhou Normal University. After the completion of their graduation, they married each other in 1980. They have a son and a daughter.
Quotes of Jack Ma
- Never give up. Today is hard, tomorrow will be worse but the day after tomorrow will be sunshine.
- You need the right people with you, not the best people.
- Once in your life, try something. Work hard at something. Try to change. Nothing bad can happen.
Jack Ma was not born rich or extra-ordinary. He spent his life as an ordinary person. He struggled for many jobs. Even after many rejections he believed that there is something waiting for him. He kept on trying and implemented his unique ideas.
People never believed him and called him ‘crazy’. Even his father warned him for his unique ideas. His career started from a website which led him to think about the global e-commerce platform.
Today, Alibaba group is one of the leading e-commerce websites which has great influence on the people of China. He proved to the mankind that it’s not your failure or rejections which make your future but your will to execute your ideas decide your future.
Once he stated, “We are never in lack of money. But, we lack people with dreams, who can die for those dreams.”
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