Jack Ma Biography and Success Story
"If there are nice rabbits on the ground and if you want to catch one, just focus on one." - Jack Ma.
Hey guy's in this post I will tell you about the founder of Alibaba Group - Jack Ma, his success story and I hope you will like it.
Getting regularly failure but he din't stop and now what he achieve is inspiration to the whole entrepreneurs and all students.
He is the Chief Executive Officer and founder of Alibaba.com
About Jack Ma
Ma Yun known professionally as Jack Ma, is a Chinese business magnate, philanthropist, internet and technology entrepreneur, who is the founder and executive chairman of Alibaba Group. Jack Ma is the kind of exceptional and talented leaders who redefine the path of success. He is one of China's richest men, as well as one of the wealthiest people in Asia, with a net worth of US$47.8 billion, as of November 2017.
Jack Ma was born on 10 September, 1964 in Hangzhou, Zhejiang province, China. His zeal to enhance his aptitude and acquire new skills was evident from childhood. As a teenager, he started communicating with foreign tourists to enhance his English skills.
He entered the Hangzhou Normal University and completed graduation in English. After graduation, he became a lecturer of English and International Trade at Hangzhou Dianzi University. Later in his life he attended Cheung Kong Graduate School of Business in Beijing.
Ma married to College friend Cathy Zhang Ying and they have two childrens.
Career
Jack Ma applied for 30 different jobs and got rejected by all. "I went for a job with the police; they said, 'you're no good,'" Ma told interviewer Charlie Rose. "I even went to KFC when it came to my city. Twenty-four people went for the job. Twenty-three were accepted. I was the only guy...". In addition he applied 10 times for Harvard and got rejected.
In 1994, Ma heard about the Internet. In early 1995, he went to the US and with his friends they helped him get introduced to the Internet. During his first encounter he searched the word "beer". Although he found information related to beer from many countries, he was surprised to find none from China. Further, he tried to search for general information about China and again was surprised to find none. So he and his friend created an "ugly" website related to China. Which will give information about China.
In April 1995, Ma, his wife, and a friend raised USD 20,000 and started their first company. Their company was dedicated to creating websites for companies. He named their company "China Yellow Pages."
Alibaba Startup
The Yellow Pages website was not a resounding success, prompting Jack Ma to join the commerce ministry for a period. After shifting back to Hangzhou, in 1999 he set up Alibaba as a business-to-business (B2B) marketplace site. Alibaba.com enabled Chinese exporters to connect with overseas buyers. Ma managed to attract SoftBank and Goldman Sachs as investors later.
Alibaba.com hit the 1 million user mark in March of 2002, and finally began making money later that year, as Ma had promised its backers. Initially it had been free to join, but offered a host of extras, such as personalized Web pages, that brought in revenue.
After consolidating the position of Alibaba, Ma shifted focus to consumer-to-consumer platform. Taobao.com was formed in 2003. His strategy to keep it free affected the profits and drew widespread criticism, but Ma was unruffled. Taobao gained a majority of market share in two years.
Alibaba group has diversified into nine major subsidiaries- including Alipay and Alibaba Cloud Computing. Alibaba ventured into the state-dominated and staid industries in China including finance and retail. Ma is now venturing into film production. A visionary, Jack Ma is an inspiration to an entire generation for succedd.
"Today is cruel. Tomorrow is crueler. And the after tomorrow is beautiful" - Jack Ma.
"It doesn't matter if I failed. At least I passed the concept on to others. Even if I don't succeed, someone will succeed." - Jack Ma.
So, guy's this was the success story of Jack Ma and I hope you like it.
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