Jack Ma was born Ma Yun, a person that became a very powerful business magnet in China that became the founder of the Alibaba Group. This is a company that is representative of several successful Internet businesses that originated in China. Born in Hangzhou, China, he took college entrance exams which were very difficult for him to pass. Eventually received a BA in English in 1988 and subsequently earned another degree at the Cheung Kong business school in 2006. Although this may seem impressive, none of this actually led to the success that he obtained in his life. His primary focus was finding a way to make money on the Internet. Part of this was driven by the fact that he was denied work after applying to over 30 different locations, often being told multiple times that he simply wasn’t good enough. It was in 1994 that he first heard about the Internet, and from this brief introduction, he went on to create Alibaba.
Jack Ma’s Path To Online Success
His first interaction on the Internet in 1994 was to create a website about China, something that he could not find any information about with his initial searches. In 1995, he and his wife asked different people for a total of US $20,000 to create a business where he would create websites for different companies. The company was called the China Yellow Pages, and within three short years, he was able to generate nearly US $1 million. All of this was accomplished without writing a single line of code for the websites that were created, nor did he actually make a single sale. He then shifted gears, creating an information technology company, but by 1999, he decided to raise 500,000 yuan to go a different direction. He created Alibaba.
The Success Of Alibaba
He was able to take this company to high levels of profitability as a result of an additional $25 million in venture capital money from investors that saw the potential in this business. He was going to provide advertising, a platform where people could advertise products that they were selling on a global scale. He was initially offered a substantial amount of money from eBay to purchase the company, but decided to decline. Instead, he worked with cofounder Jerry Yang, a cofounder of Yahoo, with an investment from this company totaling $1 billion. Since that time, at least as of 2014, he was able to raise $25 million. He did so by taking the company public, creating an IPO, one that can be found on the New York Stock Exchange. This was at the time the largest initial public offering ever made in the US for a company. He now serves as the executive chairman of this company which is officially called Alibaba Group. It is also a company that has nine major subsidiaries, and the company itself has generated over 1 trillion yuan in transactions since 2012. After that, he became the owner of several other companies and in 2017 spoke with Pres. Donald Trump about helping to create a million jobs for the United States in just five years. This is an incredible success story, based on the belief of one man that he could use the Internet to generate substantial amounts of wealth by doing nothing more than providing a platform that people around the world could use to sell products.
In conclusion, Jack Ma became one of the most successful entrepreneurs in China, if not the entire world, despite having met incredible obstacles. After being told for years that he had no skills whatsoever, he defied all logic by becoming one of the most successful people in the world. It is this desire to prove people wrong that led him to become successful, realizing that he only needed to provide something that people all needed to use. By targeting commercial and industrial companies that were selling products, he allowed them to have a platform on a global scale by which to improve their businesses. There are always going to be success stories, but the ones that are the best are those that are the result of hard work and vision. Despite his humble beginnings, Jack Ma is now regarded as one of the most entrepreneurial individuals to have ever made his mark on the world by creating an Internet based business.