The Chinese businessman, philanthropist, an investor, a co-founder, the Chief Executive Chairman of Alibaba and the person who lifted up the companies like Alipay, Aliexpress, Taobao, Alibaba Cloud Computing. He is the richest man in China with an estimated net worth of 3800 crores USD .
Do not fall for such big numbers because they have not come easily as simple as it may sound. Jack Ma has had it hard in his life to get to where he is today. A true rags-to-riches story and definitely a one which will inspire you even in your darkest days.
It wasn’t always so easy going for Jack. From teaching the students at $12 per month to building this huge empire of $25 billion, it has been quite a journey for him. Failure had never been a discouragement for Jack Ma since his childhood. It has always motivated him to do better. He failed twice in his primary school, maintaining the streak he gave his middle school exam thrice and later went on to attempt the entrance exam thrice for universities after his high school. After all this failure, he went on trying the road to Harvard University by writing an application which got rejected 10 times. He got his first job after getting around 30 rejections. He got rejected at KFC by just saying he wasn’t eligible though they had vacancy. The streak of his failure didn’t stop there, it went forward with failure of his own two ventures which were in their initial phase.
Jack Ma visited US in 1995 for a Government undertaking project related to the building of highways. That was the first time when Jack Ma was introduced to computers. Computers were pretty rare in China then, given the high costs associated with them and the Internet or e-mails were non-existent. The first word he searched on his browser was ‘Beer’ and it popped out results from different countries, surprisingly there were no results for China. He then searched ‘China’ and not a single result popped out! He then decided that it was for China and its people to get on the Internet.
This is the time when the thought of Alibaba came into picture! He always had a dream to do something big, so he thought of establishing an e-commerce company. For this he called of his friends in his apartment and pitched his idea. All were so convinced by his pitch that they put their money on the table which brought $60,000 to the Global trade(Alibaba). This story began with another story of Jack Ma to bring China in the limelight of other countries. His whole sole intention was to bring an all around development in China. From this his patriotism towards the country can be carved out. Alibaba didn’t have a single penny in investment from outside investors but they later raised over 20 million dollars from Softbank and another 5 million dollars from Goldman Sachs .Today, Alibaba has 700 million shoppers! Alibaba is worth more than Facebook and it processes goods more than EBay and Amazon combined!
He then thought of jumping into the red ocean but he had big competitors like E-bay. Each network which were so well established that to break them he launched Taobao the largest business of the Alibaba group this company is basically similar to eBay.com which works on basic model of C2C with an USP of not charging the customers for making their transactions whereas his competitor eBay charged a huge amount on doing the same.
To increase his Business Empire he introduced an online payment system similar to Paypal which is known as ‘Alipay’.
Currently, Alibaba’s financial market value is approximately 100 billion dollars. He further launched Tmall.com a part of Taobao based on premium B2C market place which aimed on growing Chinese Middle class for this he has a business model which charges merchants yearly membership fees. His marketing strategy basically brought all the other domains of work under his own company so as to invest less in marketing and generate more and more results through their marketing.
On his 55th birthday, Jack Ma stepped down as the chairman of Alibaba's board on September 10. He announced that he is idolizing Bill Gates ! The richest man in China leaving the company results in a good deal of questions arising for the future of the company. His thoughts regarding the company portray optimist reforms in the future.
"Never give up, today is hard, tomorrow will be worse but the day after will be sunshine!” He is one of the best example of how people become a Billionaire in just flash of time. Jack Ma didn’t see his first computer until he was 31! Neither did he write a single computer code nor did he sell a product to anyone and still is now the owner and the founder of the largest e-commerce website. He never went to Harvard, but the people working for him did! He is truly an inspiration to the young emerging entrepreneurs around the globe."Go Big or Go Home!” You just need to have an idea, a strong will to work and a never giving up attitude to achieve great success in life!