Biography of Jack Ma.

 Jack Ma (Founder of Alibaba) 

Early life

Jack Ma was born on 10 September 1964 in Hangzhou, Zhejiang, China. He belongs to a poor family. His parents work as a story-tellers in a drama company. At that time there was too tough to learn to speak English. But Jack Ma had a keen interest in English. So he learns to speak English at Hangzhou international hotel by speaking English with the tourists. The hotel was 70 miles away from his home and he had to travel from cycle to cover this long distance.

Failure

He failed a lot of times in his college life, in his primary school, middle school. He applied 10 times to Harvard business school and got rejected. At that time KFC wanted a lot of employees. So employees apply for KFC and 29 were selected and only Jack Ma was rejected. He applied for 30 different jobs and got rejected at all.

Career

Ma struggled attending college. Ma attended Hangzhou Teacher's Institute and graduated in 1988 in B.A in English.

He told that "learnt from the stories of failure". After graduation, he became a lecturer in English and International Trade at Hangzhou Dianzi University.

Internet At First Time 

In 1995, he went to the U.S with his friends at the first ,tm e he introduced something like the internet to himself. He searched for the general information of China and was shocked because there was nothing at all about China.

"Then he realises that the Internet was something that had the capability to change his life completely".

He was sitting in the hotel with his friends and realise that "Alibaba" was the name that was very famous in China at that time.

Alibaba

In April 1995, Ma and his wife and friends raised the US $20,000 and started their first company. The company was all about to create a website for other companies and he named it "China Page". Within three years, Ma Earned 5,00,000 China Yuan which was equivalent to the US $ 800,000 at that time.

Finally, in 1999, Alibaba was started. But as always he was not able to earn profit for three years Until 2003. In 2003 E-bay came to China to set up their business and said Jack Ma to sell Alibaba to him. But Jack did not allow an outsider to set up their business in his own country. He refused E-bay to sell their company. Alibaba's a company "Tau Bau" launched "Auction Site". After that people started taking an interest. It was the break for Jack Ma. Because he sold all his material on the zero commission whereas E-bay sold on a large commission. Due to which people used to prefer Alibaba instead of E-bay.

Ma told, "If E-bays are shark we are the crocodiles in the same river."

Success

In September 2014 it was reported Alibaba was raising over $ 25 billion in an initial public offering (IPO) on the New York stock exchange.

Alibaba became one of the most valuable technology company in the world after raising the full $25 billion the largest initial public offering in US financial history.

In 2018 Ma served as executive chairman of Alibaba Group which is a holding company with nine major subsidiaries. In November 2012 Alibaba's online transaction volume exceeded one trillion yuan.

Alibaba Group is a Chinese multinational company specializing in e-commerce, retail, internet, technology, entertainment, Artificial intelligence, FINTACT payment, cloud compiling.

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