News From Asia

Sunday, November 30, 2014

Story of the Alibaba Founder, Jack Ma




Name: His English name is Jack Ma, and his Chinese name is Ma Yun(马云).
Little History: He was born in 1967, September 10th in Zhejiang Province, Hangzhou. In 1999 he started a Alibaba, the company that is now operating worldwide, in 2014 he his company went public in the US. Its shares were sold at 21 billion dollars, surpassing China Agricultural Bank. This also made him the wealthiest man in China by the time, and he were the first person in China to be featured on the cover of the Forbes magazine.

When he was a kid he liked English language so much that he usually made foreign friends who were living/working in China so he could learn the language. His story shows that he was not really school-smart but he managed to make a lot of friends. After failing more than three times in University entrance exams, he managed to pass and invited to study Education in the University of Hangzhou, where he got his first degree in 1988.
All this time he didn't know a thing about computer, but his foreign friends told him about computers and the Internet, during their conversations he discovered the power of Internet and computers. He started talking to his Chinese friends about the power of Internet and computers but many of them mocked him because at the time, very few people knew about them. they thought he was a fraud or he was a daydreamer, but one day he invited his friends to his home to show them how internet is used, they bought some liquor and waited for the whole night for half of a website to open, this is when even those friends who were mocking him started to praise him because they never saw something like that before.

During this time he were also helping his foreign friends to create websites, and he also started his own Yellow pages company, this was the first website in China. He went on to work on various other communications projects with different companies. He started Alibaba in 1999, at that time its aim was to connect farmers and buyers, when it succeeded tremendously, he also transformed Alibaba to be a company that connects manufacturers and buyers directly all over the world. The company also went on to open few sister companies such as Taobao, which is one of the largest retail company in China, he also created an online payment company Zhifubao to help people pay online easily. Untill now, these companies are leading companies in China.
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