Success Story Of Jack Ma or Ma Yun; Born September 10, 1964), professionally known as Jack Ma, is a Chinese business tycoon who is the founder and CEO of Alibaba Group, a family-based Internet business.
He is currently the richest person in Asia with a net worth of 43.2 billion dollars, starting in July 2017. He has become a world icon in the world of business and entrepreneurship, one of the entrepreneurs Most influential in the world and a philanthropist known to have explained his business philosophy. It ranked second in Fortune’s list of the world’s top in 2017.
Success Story Of Jack Ma: Early Years
Ma was born in Hangzhou, Zhejiang province, China. But he began to study English at a young age and practice daily English conversation with English speaking speakers of International Hotel in Hangzhou, a 40-minute bike ride from home.
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Success Story Of Jack Ma Include that He would travel around the city to improve his English. He has been doing this for nine years. It has become a pen with his companion of one of those foreigners, who named him “Jack” because it was difficult to pronounce his Chinese name.
Later, in his youth, but has had trouble attending college. The Chinese entrance exams are held only once a year, and it took four years to go. After that, he attended Hangzhou But (now known as Hangzhou Normal University’s study center) and graduated in 1988 with a B.A. in English. While at school, but he was the head of the student council.
After graduation, he became Professor of English and International Trade at Hangzhou Dianzi University. He later enrolled in the Cheung Kong Graduate School of Business (CKGSB) in Beijing and graduated in 2006.
Success story of Jack Ma: His Carrer
Success Story Of Jack Ma when Jack Ma has requested 30 different jobs and is rejected by all. “I went to work with the police, they said,” you’re no good, “said Ma Charlie Rose interview.”
I also went to KFC when he came to my city, twenty-four people went to work, twenty-six were accepted, he was the only …. “, also applied 10 times to Harvard and is rejected.
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In 1994, But heard the Internet. In early 1995, he went to the United States and with the help of his friends, he introduced himself to the Internet. During your first meeting, looking up at the word “beer.” Although we found the information concerning beer from many countries, we were surprised to find that none of China. Moreover, he tried to find general information about China and was once again surprised to find none.
So he and his friend have created an “ugly” site in China. The website was launched at 9:40 and at 12:30 had emails received from some Chinese who wanted to know about him. But this is when he realized that the Internet has had something great to offer.
In April 1995, but, his wife and a friend went around, they asked for $ 20,000 and they started their first venture. Your company has been dedicated to creating websites for companies. He called his company “China Yellow Pages”. After three years, his company had 5,000,000 Chinese yuan, which is equivalent to 800,000 dollars.
Success Story Of Jack Ma that he started building websites for Chinese companies with the help of friends in the United States. He said that “the day we were connected to the web, he invited me friends and TV people to my house”, and in a very slow connection remote connection “we waited three and a half hours and we arrived half a page …. we drank, We watched television and played cards, waiting.but I was so proud.
I have shown (to my guests) the Internet at home there. “(In a conference in 2010, but it was revealed that he never wrote a line of Code or make a sale to a customer. A computer was bought for the first time at age 33.
From 1998 to 1999, he led an information society established by the China International Electronic Commerce Center, a department of the Ministry of Foreign Trade and Economic Cooperation. In 1999, he retired and returned to Hangzhou with his team to found Alibaba, a business-to-business marketplace in China, in his apartment with a group of 18 friends. Started a new development cycle venture with 500,000 yuan.
In October 1999 and January 2000, Alibaba has twice won with a total foreign currency venture capital investment of $ 25 million. The program should improve the internal market for electronic commerce and refine an e-commerce platform for Chinese enterprises, especially medium-sized small and medium-sized enterprises (SMEs), to meet the challenges of the World Trade Organization (WTO). But he wanted to improve the global e-commerce system, and since 2003 founded Taobao sea.
In October 1999 and January 2000, Alibaba has twice won with a total foreign currency venture capital investment of $ 25 million. The program should improve the internal market for electronic commerce and refine an e-commerce platform for Chinese enterprises, especially medium-sized small and medium-sized enterprises (SMEs), to meet the challenges of the World Trade Organization (WTO).
Success Story Of Jack Ma, he wanted to improve the global e-commerce system, and since 2003 founded Taobao market, Alipay, Ali Mama, and Lynx. After the rapid increase of Taobao, eBay has offered to buy the company. However, Ma has rejected the offer, instead of collecting the support of Yahoo co-founder Jerry Yang with a billion-dollar investment.
In September 2014 it was reported that Alibaba has raised more than $ 25 billion in an initial public offering (IPO) on the New York Stock Exchange. Alibaba has become one of the most important technology companies in the world, after raising $ 25 billion, the largest initial public offering in US history.
But now he serves as chief executive of Alibaba Group, a holding company with nine main branches: Alibaba.com, Taobao market, Tmall, ETAO, Alibaba Cloud Computing, Juhuasuan, 1688.com, Alipay, and AliExpress.com.
In November 2012, the volume of Alibaba’s online transactions exceeds one-third yuan. But it was as marked as “Hou Billions,” which literally means “billion Yuan Marquis” in Chinese.
However, he was often invited to give lectures at universities such as the Wharton School of the University of Pennsylvania, the Massachusetts Institute of Technology Harvard University and Peking University.
But from 2016 he is the owner of the castle of Sours in Bordeaux, Chateau Guerry Côtes de Bourg and perennial Château in Blaye, Côtes de Bordeaux.
On January 9, 2017, he has spoken with US President Donald Trump at the Trump Tower on how to create one million jobs in the United States in five years.
Success Story Of Jack Ma: Net Worth And Influences
Following the initial public offering (IPO) of Alibaba Grp. (BABA) in 2014, Jack Ma’s net worth is estimated at more than $ 20 billion. Much of Ma’s wealth is related to Alibaba and its subsidiaries, and Yunfeng capital Alipay.
But Alibaba is increasingly diversifying through organic growth and acquisitions. Alibaba’s holdings now include property assets and/or major holdings of property in a film studio, venture capital funds, Yahoo! China, manufacturers of sanitary technologies, messaging applications and voice applications, supply chain management companies, impassioned taxi services, video streaming sites, social networking applications, online clothing retailers and much plus.
But he is also a founding partner of Yunfeng Capital, a venture capital company that is separate from Alibaba.
But he is a charismatic, extravagant and energetic leader, and his influence on business and leadership has been recognized by various organizations.
He was named one of the most influential in the world of Time magazine in 2009, Entrepreneur of the Year 2007 by Business Week, Heroes of Philanthropy in Asia in 2010 by Forbes Asia, one of the top 30 in the global CEO of Barron in 2008 and 2001. The list of the world’s top youth in the World Economic Forum was made.
Their influence has been prolonged in social affairs, especially environmental causes. But he is a member of the Nature Conservation Board in China since 2010. He has, however, given to the shark fishing industry, pledging to end consumption of shark fins, and as president of Alibaba has Worked to bring the final shark fins and other shark products based on Alibaba.
Under Jack Ma, a small percentage (but significant, in absolute value) of profits Alibaba is allocated to finance environmental causes. But he believes that environmental problems are taking lives.
In light of this, though beware of his language, but he began ringing alarm bells about the environmental impact of industrial and Chinese production. He says China will take steps to further diversify its economy and reduce its dependence on production.
But Jack is a proud and activist for the treatment and advancement of women in the workplace and beyond. However, he said: “Within Alibaba Grp, About 47% of employees are women, which was downed by 51% due to the acquisition of other controlled companies by men and 33% of Alibaba’s senior management. women “. But she proudly says, “We have many women CEOs, CFOs, directors and so on.”
Jack Ma is now looking at the banking and financial sector dominated by the government with the at Alibaba Financial Services. With the introduction of “Yu’e Bao,” a fund of funds associated with Alibaba in 2013, but is trying to use technology to disrupt the financial services sector, offering a greater interest in savings and greater liquidity than banks traditional.
Success Story Of Jack Ma, still aims to use his influence to foster and promote entrepreneurship and is also flirting with the idea of returning to his teaching roots one day in the future.
However, he said: “For the rest of my life, I want to foster entrepreneurship, help smaller and midsize businesses, and I want to go back to school because they have been trained for a school teacher who worked for fifteen years and I believe That most of the things I learned from business school are wrong – I want to go back and share with others. “