Jack Ma — Inspiring Life Story of Alibaba Founder Jack Ma
Jack Ma is now a familiar name. He failed the Hangzhou Teachers College entrance exam twice. He grew up in communist China and failed in dozens of jobs before landing with Alibaba, his third internet company. Now, Jack Ma’s contributions to Business management software have had an impact on the Internet industry and the Chinese economy.
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Overview
Jack Ma founded Alibaba, the e-commerce giant, and is in Alipay as a stakeholder. It is the sister company serving as an e-payment portal. Alibaba processes several products, and the story of Jack Ma reveals his sheer hard work, grit, project management, and perseverance.
Jack Ma in China officially is the richest man with a $25 billion net worth. Jack Ma holds in Alibaba, a 7.8% stake and in Alipay a 50% stake. The worth of Alibaba is more than that of Facebook, and the goods processes are more in combination than Amazon and eBay.
All the achievements and numbers may sound simple, but no, Jack Ma had his tougher share of getting things in life. His story is inspiring and relates to many people.
“If you don’t give up, you still have a chance. Giving up is the greatest failure.”
Early Life of Jack Ma
Jack Ma has come from humble beginnings and is a self-made billionaire. He was born in Hangzhou, China. He wished to learn English and learned it early and practiced his skills in a nearby park that foreigners visited.
After graduating from the University in English with an undergraduate degree, Jack started teaching at Hangzhou Kianzi University. He taught the English language and earned a month of USD 12.
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Early Failures
Jack Ma’s history of failures begins with the school exams. He failed twice in the primary school exams and thrice in the middle school exams. His professional career witnessed failures. KFC is a popular food chain where 24 people applied to seek a job. 23 were accepted for the job and Jack Ma faced rejection. This was true when he applied for the police force. He was not meeting the expected cut for the police force. Above all, his two entrepreneurial undertakings met failure. However, nothing stopped Jack Ma from finding success.
Arising from nowhere
Jack Ma, his failures and rejections were a part of his life. In 1995, he visited the US for a project the Government was undertaking relating to highway building. Here Jack Ma came into knowing the Computers and Internet.
In China, computers were rare. Its high costs and the emails or the internet were non-existent. He was inquisitive to learn and searched ‘Beer’ on the Mosaic browser as the first word. There were results from all over countries. He searched ‘China’ and found there was no result. He decided it was high time for people in China to work on business management software. It means to get online on the internet.
He requested his 17 friends to join his startup’s new e-commerce, Alibaba. He started it from his apartment. His investment was nothing, and later he rose from SoftBank to $20 million, and in 1999, from Goldman Sachs to $5 million. It was team productivity. He slowly builds trust among people about the online payment system. It was the biggest challenge, and Alibaba also faced challenges but was the success term for a lifetime.
At 31, he began his successful company. As a project manager, Jack Ma never knew selling or writing a single code or line. Yet, he runs the e-commerce networks. Jack Ma runs the biggest e-commerce networks and expands all over the world. Alibaba is the e-commerce giant next to Walmart (more)
