Jack Ma Success Story


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The greatest empires are sometimes born out of smallest of ideas today we will talk about the story of the man who has impacted the entire economy and the internet industry of China almost single-handedly his life is nothing less than the story of Robert the Bruce and the spider that we were taught in our kindergarten this is the story of the man who's today one of the most valued persons in the world Jack Ma [Music] born to a traditional musicians to retell appearance on October 15 1964 Jack Ma was the second child in the family Jack and his two siblings and elder brother and a younger sister had a modest upbringing during their childhood 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 correspondence further his pen pal named him Jack as he found 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 of ten times 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 he started a translation service business upon his first visit to the United States in the 1995 as a translator Jack got introduced to the Internet he was totally shocked after he looked up beer from various countries at and that there was none from China on the worldwide web which is a country of about a billion people jack immediately saw the potential business opportunities of the internet and 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 their company that experience taught Jack about the incredible power of connectivity especially how the Internet can greatly impact the global trade essentially for small medium enterprises however due to 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 in the latter half of 1990s then he also built important connections with influential people that would later impact Jack's live 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 with a goal of facilitating international trade for small and medium mentions beasts in China in the early stages of Alibaba Jack tried to raise funds from the Silicon Valley which is a tech hub in the United States but 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 fines and eventually jack was successful in getting Goldman Sachs and Softbank to inversed five million and twenty 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 reorganized company's operations including closing many international branches and focusing on strengthening alibaba's position in the Chinese market thereafter Jack expanded the services of Alibaba and we engaged its international expansion strategy after Jack and Alibaba reorganized their operations and made their mark by driving eBay out of China after just few years and business Jack succeeded in getting Jia who to invest a sizable 1 billion dollars for a 40% stake in 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 in excess of 25 billion dollars for Alibaba by listing it in the New York Stock Exchange in the United States that made Alibaba a fifteen-years-old ecommerce 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 and 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 and achieve success Jack Myers the kind of an exceptional and talented leaders who've redefined the path of success at the moment Alibaba Group is worth over two hundred billion dollars it is fast on its way to dominate the International ecommerce market while Jack Ma and Alibaba are yet to witness many more models in the future be at start of stories where Chacma all the very best hope he keeps inspiring many more generations to come.

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