Hello Guys!! On heavy demand from our subscribers, here we came with the Success Story of the Business Tycoon Jack Ma – journey from Road to Co-Founder of Alibaba Group.
In this post, we will give you the life changing history of Jack Ma, his continuous failures, his achievements, his motivational quotes, and his journey to foundation of Alibaba, an e-commerce platform.
Here we have divided the post into several sections, so that it would be easy for you to navigate through the post. Here we start……..
Jack Ma – Birth and Childhood
Brief Introduction: Jack Ma is a Chinese investor, businessman, and a politician. He is the 2nd richest person of China. After 13 years of serving, Jack stepped down from Softbank Board of Directors. In the year 2019, Jack was retired as Alibaba’s Executive Chairman.
Jack Ma – Birth, Childhood, & Education
Jack Ma born on 10 September 1964 as Ma Yun at Hangzhou, Zhejiang, China. At a very young age, Jack started to learn English language. At the 9 years of age, Jack travelled 27 kms with his bicycle to guide the travellers. Meanwhile, he also has conversation with them and this helped him a lot in learning English.
Jack took three long years to clear Chinese Entrance Examination in order to get admission in to college. These examinations were really tough and organized once in a year.
Jack joined Hangzhou Normal University –previously called Hangzhou Teacher’s Institute. He graduated in Bachelor of Arts Degree in English in 1998. After graduation, Jack started teaching International Trade & English at Hangzhou University.
Jack Ma’s inner desire was to get admitted in Harvard Business school but his fate was not in favour of him. He got rejected from Harvard 10 times and his desire left in vain.
Jack Ma – Growth Career and Business Startups
In an Interview Jack Ma said “once KFC came to his town and 24 applicants were there to be interviewed. 23 job aspirants got the job and he was the only one, who got rejected.” Jack applied for 30 different job profiles and faces rejection in all of them.
In the year 1994, Jack heard about the Internet and its world wide facility. He began to plan for a company startup and started his own company naming “Hangzhou Haibo Translation Agency”. Later in 1995, Jack with his colleagues visited United States, where he found some information related to beer from many countries except China. He was very surprised to see that there was not a single information about China.
Along with his friends, Jack Ma started his own website “Ugly” and launched it in the morning at 9:40 AM. In nearly two hours of time by 12:30 PM, he started getting emails from the investors.
China Pages was the second company put up by Jack Ma and his friend He Yibing in April, 1995. They registered the domain of the company in US “chinapages.com” in May, 1995. Within 3 years of time, the company’s net worth was 800,000 USD.
With the success of China Pages, Jack Ma started creating websites for different companies of China. In the year 2010, Jack however revealed the truth that he never coded nor made any type of sales to the customers. In 1998-99, Jack was the head of IT company which was established by China International Electronic Commerce Center and Ministry of Foreign Trade & Economic Corporation. He resigned from that company and founded “Alibaba” with the cooperation of his 18 friends in the year 1999.
Following the year from October 1999 and January 2000, Jack Ma’s Alibaba won a total of 25 million USD foreign investment twice. To improve the e-commerce system, Jack founded Alipay, Taobao, Ali Mama, and Lynx. After it successful implementation, eBay offered to purchase Taobao and founder of Yahoo invested 1 billion USD in Taobao.
With the successful implementation of Alibaba, in November 2012, the online transaction exceeded one trillion yuan. Jack founded a business school “Hupan School” in 2015. In 2017, Jack Ma met US President Donald Trump discussing about 1 million job openings in favour of Alibaba in the coming five years.
In September 2018, Jack Ma announced that he will step down from Alibaba as the executive chairman. This announcement created a matter of discussion to various news channels and shows. Several reports came out that Jack Ma was forced to step down from Alibaba Group by the Chinese Officials. This was later denied by Jack Ma and he added that he want to focus on philanthropy.
Jack Ma- Philanthropy and Organization
Ma founded a philanthropic organization naming “Jack Ma Foundation”. This organization focused on the public health, environment, and education.
In 2008, a donation of 808,000 USD by Alibaba Group made to this organization after Sichuan earthquake. Jack Ma was appointed as the trustee of Nature Conservancy China program. In 2010, Jack became one of the directors of the organization.
In 2018, Jack Ma announced his retirement from Alibaba Group and started the Jack Ma Foundation. He began to worn in the field of philanthropy, education, health issues, and environmental causes.
Jack Ma- Awards and Achievements
In the year 2019, Jack got ‘Malcolm Forbes Lifetime Achievement Award’ organized by Forbes for his help to the underprivileged communities of China, Australia, Nepal, Africa and the countries of the Middle East. Jack Ma was also listed in “Asia’s 2019 Heros of Philanthropy.”
In 2020, Jack Ma foundation and Alibaba Group launched several initiatives to ease the COVID-19 pandemic. Both the foundation have donated medical supplies to several countries of United States of America, Asian, African, and European countries.
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