Jack Ma: Profile, History and Business of Alibaba Group

Maybe you are already familiar with this one figure, namely Jack Ma. Jack Ma is a prominent Chinese entrepreneur who founded the Alibaba Group. Jack Ma was born in Hangzhou, Zhejiang, China on September 10, 1964, his real name is Ma Yun. Jack Ma has an older brother and a younger sister. Jack Ma has a wife named Cathy Zhang and a child named Ma Yuankun.

In 2015, Jack Ma was included in the Forbes Business Media list with the title of Influential Global Billionaire. Of course, he is one of the richest people in China. Jack Ma had founded Alibaba, the e-commerce giant in Hong Kong, but has since acquired many other related companies around the world.

Jack Ma's Inspirational Figure

Jack and his siblings grew up in communist China which was very isolated from the West. In fact, his family did not have much money at that time. Since then, Jack Ma's hometown has become a mecca for tourists. A creative teenager with a business sense, Jack Ma spends his days waking up early to visit the big hotels in the city.

Jack Ma then provides tour guides for tourists and takes English lessons as a fee. The nickname "Jack" eventually stuck to him because of gifts from tourists who eventually befriended him. Education is Jack Ma's only way forward. After high school, Ma applied to colleges but failed the entrance exam twice.

Never Give Up and Hard Worker

Never giving up even though he failed twice, Jack Ma's efforts paid off on his third try. Jack Ma managed to continue his studies at Hangzhou Teachers College, and was declared graduated in 1988 and began applying for as many jobs as he could.

Unfortunately, Jack Ma had to endure a dozen rejections, including at the local KFC restaurant. Finally, Jack Ma was hired as an English teacher. Indeed, Jack Ma was a born teacher, liked by his students and loves his job even though the pay is small. Jack Ma teaches at a local university and earns only $12 per month.

Jack Ma had no computer or programming experience at all, but became very interested in the world of the Internet in 1995 when Jack Ma was able to use it for the first time while traveling in the United States.

The Starting Point of Alibaba's Success

After starting a translation business, Jack Ma traveled to help a Chinese company recover. Jack Ma conducted his first online search, which was “intoxicating drinks,” but Jack Ma was very surprised to find that there were no Chinese intoxicants in his possession. output internet search. Since then, Jack Ma has established himself to set up an internet company for his country, China.

After a while, this internet service began to attract the attention of many users around the world. Until, in October 1999, Jack Ma's company managed to raise $ 5 million from Goldman Sachs, and $ 20 million from SoftBank. SoftBank is a Japanese telecommunication company that likes to invest in technology companies.

Until 2005, Yahoo also invested $ 1 billion in Alibaba and then exchanged it for approximately 40% of the company's shares. This amount was very large for Alibaba, which at that time was trying to beat eBay's efforts in China. In the end, Yahoo's decision was a landslide victory for Yahoo because it managed to generate $ 10 billion for Alibaba's IPO.

Then, on September 19, Alibaba introduced itself to the world. “Today what we get is not money. What we got is a religion based on people," Jack Ma said at the time to CNBC journalists.

The $150 billion IPO was the largest offering for an American-listed company in the history of the New York Stock Exchange. That's what makes Jack Ma the richest man in his native China, with an estimated $25 billion.

You can follow in his footsteps by being a hard worker and never give up!