Jack Ma is a billionaire from China. He is the founder of the e-commerce website www.alibaba.com which is currently the largest e-commerce company in China. Not only that English teacher is for now become one of the people included in the ranks of the richest people in China.
Jack Ma was born on October 15, 1964 in Hangzhou, China. He has an older brother and a sister. He and his brothers live in poor families. Her parents only worked as musicians and traditional storytellers in China who at that time the country is increasingly isolated from the Western world.
In 1972, US President Richard Nixon visited Hangzhou. After the president's visit Jack's home village became a tourist destination for sightseeing. At the age of 12, he cycled visiting the city's main hotel to offer language translator services to visitors as well as a tour guide.
This activity makes him fluent in English. Ma's eight years underwent this kind of activity from the age of 12 to 20 years. Socializing with foreign tourists has really changed his outlook on life, he thinks globally when compared with most other Chinese population, which at that time China has just started to open up to Western life.
Jack Ma had twice failed the exam to enter the university, but it did not make him give up, he took the exam again, and finally he graduated in his third exam and officially became a student at Hangzhou Teacher's Institute, a college specialized in education. And he graduated in 1988
After graduation, Jack began applying for jobs at several companies, but again he had to find a problem when applying for a job one of which was rejected. Several times he applied to a number of companies, but all applications are not accepted.
His rejected job application finally decided to become an English teacher in China, he chose this job because he was fluent in English so it would not be difficult for him while working as an English teacher. He enjoys his job as a teacher, even though his salary is only about $ 12 to $ 15 per month.
His ability in English makes him often invited Chinese businessmen to be a translator. In 1995, Ma went to the United States for the benefit of a translator, while there he met his friend in Seattle.
Since the Internet network created by Leonard Kleinrock in 1969, Jack just got to know and use the internet for the first time in 1995, introduced by his friend. At that time his friend said that everything can be found on the Internet. He tried typing the keyword 'beer' in the search engine, but he did not find any data about China with the keyword being generated search.
Thanks to these keywords, Jack sees the potential to grow online business in China. Finally on the help of his friend in America, he managed to create a website that offers translate services from Chinese.
In 1955, Jack set up a website about China's business index in China Pages, the website is the first online-based company in China.
In 1997, he left China Pages to join the government. He became the leader of an information technology company built by the China International Electronic Commerce Center, a department of the Ministry of Foreign Trade and Economic Cooperation of China in 1998-1999.
Establishing and Traveling Alibaba.comAlibaba.com is an e-commerce site that brings together global customers and suppliers standing in 1999 founded by Jack Ma. In establishing this site he was assisted by 17 friends in Hangzhou.
Alibaba's name was taken when he was in a coffee shop in San Francisco, then he was thinking about a name that is appropriate for his company and easily recognized by everyone in the world then he got the idea with the name Alibaba.
Jack Ma starts to ask the name to the waiter who is there, he asks "What do you know about Alibaba?", The waiter replied "Alibaba and 40 thieves". Then he asked some people about Alibaba, and people questioned about Alibaba they all answered knew. Finally he uses the name Alibaba as the name of his company because it is easily spelled, easy to remember and is known globally.
Also read: Warren Edward Buffet Biography The Richest Man in the World.
Alibaba.com connects Chinese exporters to foreign buyers. At that time the Chinese economy began to wriggle and businessmen from China needed a place to be able to transact with the outside world thanks to this is Alibaba became one of the largest and most successful e-commerce sites in China.
In May 2003, Alibaba named Taobao, a shopping site, which has a function similar to eBay. Some say that the purpose of this site is to compete with eBay who at that time became the ruler of online shopping in China after buying Eachnet, a major auction site in China which is the main online market in China's electronic commerce market.
To be able to compete with eBay, Jack eliminates sales transactions that occur in Taobao, both from the sellers and buyers. The thing he did well was proven when at a press conference in October 2005, he said that Taobao managed to control 70% of the market share for online shopping in China. In 2006, eBay decided to leave China's online market.
In May 2009, Jack was awarded Time Magazine in 100 of the world's most influential people. He was also selected as one of the "Top 10 Most Respected Entrepreneurs in China" by Forbes Magazine. In June 2011, Jack Ma decided Taobao will be split into 3 different companies, namely Taobao Mall, Taobao Marketplace, and eTao.
In August 2014, Alibaba conducted an Initial Public Offering (IPO) in the US stock exchange. An IPO conducted by Alibaba in the New York Stock Exchange set a world record. Alibaba's corporate value reached US $ 162.7 billion with an estimated price of US $ 66 per share, Alibaba surpassed Amazon's $ 152.4 billion. It puts Alibaba as the third largest internet company listed on the stock market after Google and Facebook.
In 2013, Jack resigned from his position as CEO in Alibaba and was replaced by Jonathan Lu. After resigning as CEO, he now serves as chief executive in Alibaba. At age 50, he has a net worth of $ 26.5 billion, according to Bloomberg Billionaires Index....
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