Today we will talk about the inspirational story of the man who has impacted the entire economy and the internet industry of China of Alibaba owner.
Almost single-handedly his life is nothing less than the story of Robert. Bruce and the spider that we were taught in our kindergarten.
This is the story of the man of Alibab owner who’s today one of the most valued persons in the world Jack Ma Born to traditional musicians to retell appearance on October 15, 1964.
Communism was at its peak in the country and the residents at Lille or no contact with the Western world.
However, his zeal to enhances aptitude and acquired new skills was evident from childhood.
From the year 1972 tourism boomed in the city and the spirit of Jack made the most of the opportunity.
He worked as a tourist guide in exchange for lessons in English a family. He also befriended one of the tourists and the two continued the correspondence. Further his pen pal named him Jack as he found the mass original name.
A little too difficult to pronounce but his education was not all smooth sailing. Jack failed in his primary school examinations two times before he got it right.
Continuing to middle school he failed graduating exams three times before going through.
Well this was not the end of his failures in the education system.
After high school when applying for universities he flopped the entrance exams trials.
He wanted to join Harvard university but he got rejected all oftentimes.
Eventually, in his third attempt, he joined Hangzhou Normal University he graduated with a Bachelor in English.
After graduating from college, he applied to 30 different jobs and was subsequently rejected by all of them.
He even applied to be a police officer but they didn’t even give him the time of the day rejecting him with three simple words.
Saying that you are no good frustrated with the lack of solid employment opportunities.
After graduating in the early 1990s Jack relied on his English to teach at the local university.
He had attended a few years ago later started a translation service business.
Upon his first visit to the United States in 1995 as a translator, Jack got introduced to the Internet.
He was shocked after he looked up beer from various countries, and there was none from China on the world wide web.
Which is a country of about a billion people jack immediately saw the potential business opportunities of the internet?
How it could facilitate the way small and medium Chinese enterprises could do business with the rest of the world. Then he and his friends decided to launch a website about China and Chinese products online.
Known as China page that lifted Chinese businesses and their products but then the same day they began to receive emails from people around the world. Requesting them to partner with the company that experience taught Jack about the incredible power of connectivity.
Especially how the Internet can greatly impact global trade essentially for small-medium enterprises. However, due to a lack of funding, Jack had to shut down this business.He later took up a government job for a short period at the Ministry of foreign trade and economic cooperation.
The latter half of the 1990s then he also built important connections with influential people that
would later impact. Jack’s life and business venture one of whom was the founding member of Yahoo Jerry Yang.
Later in 1999 after leaving the government job jack took a second bite at the internet-based business.Ventures by grouping eighteen people including himself and his wife and sold them a dream to pound.
Alibaba to facilitate international trade for small and medium mentions beasts.
In China in the early stages of Alibaba Jack tried to raise funds from Silicon Valley which is a tech hub in the United States.
He was met with denials and his business model was criticized to be unprofitable and unsustainable.
By many during that time although not the one to get bowed down easily.
Jack continued his efforts to raise funds and eventually, jack was successful in getting Goldman Sachs and Soft bank to invest five million dollars
in Alibaba respectively.
Later as the dot-com boom period came to an end in the year 2000 Alibaba faced serious challenges due to its aggressive expansion into international markets.
Jack must successfully be reorganized the company’s operations including closing many international branches. Focusing on strengthening Alibaba’s position in the Chinese market.
Thereafter Jack expanded the services of Alibaba and us engaged its international expansion strategy. After Jack and Alibaba reorganized their operations and made their mark by driving eBay out of China.
After just a few years and business Jack succeeded in getting Jia who invest a sizable 1 billion dollars for a 40% stake.
Alibaba in 2005 later in 2014 in what turned out to be the largest IPO in the world tilde. Jack and his team successfully raised over 25 billion dollars for Alibaba by listing it on the New York Stock Exchange.
The United States made Alibaba a fifteen-years-old e-commerce company. That has its origins outside of the US as one of the world’s largest companies as measured by its market capitalization.
That was approximately 200 billion dollars well even after achieving such a humongous success.
Jack feels that there’s still a long way to go ahead.
Jack and his team are turning Alibaba Holding Group into a massive conglomerate by acquiring many smaller companies from technology related to logistics. Beyond well Jack Myers one of the world’s greatest living examples of entrepreneurship.
Today once a poor lad who survived by guiding Torres Jack left no stone unturned to rise above his humble condition. Achieve success Jack Myers the kind of exceptional and talented leader who’s redefined the path of success.
At the moment Alibaba Group is worth over two hundred billion dollars. It is fast on its way to dominating the International e-commerce market. While Jack Ma and Alibaba are yet to witness many more models in the future are at the start of stories.
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