Jack Ma Alibaba

Alibaba success story – with founder Jack Ma

The inspiring life story of Alibaba founder Jack Ma

 The inspiring life sotry of Alibaba founder Jack Ma
  1. Born on October 15, 1964 in the eastern Chinese city of Hangzhou
  2. Scrawny when he was young, but was a terrific fighter and never afraid of opponents
  3. Used to visit city’s main hotel every day, offering foreign visitors tours of the city in exchange for learning English
  4. The nickname ‘Jack’ was given to him by a tourist from Australia, with whom he later became pen pals
  5. He never excelled math. Low marks on the mathematics portion caused him to fail twice in college entrance exam
  6. He finally passed on the third try, and eventually graduated from Hangzhou Teacher’s Institute in 1988
  7. Rejected for a number of jobs including a manager position at Kentucky fried chicken(KFC)
  8. Hired as an English teacher at a local university, made about $12 a month
  9. Ended up starting a translation company, which lead him to visit United States, where he discovered internet(1995)
  10. China Pages, his first attempt at an internet business was frustrating and lost control of the company to China Telecom
  11. Gathered 17 of his friends in his apartment and convinced them to invest in his vision of online market place called Alibaba.com(1999)
  12. Yahoo invested $1 billion in Alibaba in exchange for about 40% stake in the company(2005)
  13. Ma stepped down from his post as CEO, staying on as executive chairman(2013)
  14. Alibaba’s $150 billion IPO was the largest offering for a US listed company in the history of NYSE
  15. Today, Alibaba is China’s largest B2B site and favorite among American and European companies that are buying from Chinese suppliers

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Post Author: sunilkumarmano

Employee by profession, Entrepreneur by passion..

4 thoughts on “Alibaba success story – with founder Jack Ma


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