You’ve probably heard about Alibaba or read the headlines about China’s largest online commerce corporation. But, how much do we know about Jack Ma – genius billionaire businessman, co-founder and executive chairman of multinational technology conglomerate?
Early life of Jack Ma
Jack Ma was born in Hangzhou, south-eastern part of China. He was raised with an elder brother and a younger sister during the rising of China and its isolation from the midwestern regions. His parents were traditional Musicians-Storytellers. They didn’t have that much money, enough to be even thought-about as a social class during those days.
When former United States president Richard Nixon’s visited Hangzhou in 1972, he changed the situation of tourism in this city. So, Jack wanted to use the most of this opportunity. Jack always wanted to learn the English language, so as a teenager he would spend his early mornings riding on his bike to a nearby park. There he would give tours to strangers without any charge, all he wanted were the English lessons in exchange. His Chinese name was too complicated to pronounce, so one of the English ladies that he met nicknamed him Jack.
Jack after graduating with a Bachelor’s degree in English, worked as an English professor at Hangzhou Dianzi University. He worked with a salary of, believe it or not, $12 a month. But he still loved his job, and was great with his students. Then comes the part of his life when started to happen fascinating things, equal to those when he received that degree and become an English professor.
Jack Ma became a billionaire in a snap. But the list of rejections before that was quite long, you couldn’t even imagine the number of times he failed.
In his early childhood, Jack Ma failed in his primary school examinations, not once, but twice. When applying to universities after his high school education, Jack failed the entrance exams thrice, before finally joining Hangzhou Normal University. He even applied and wrote to Harvard University ten times, but each time got rejected. This was only during his education.
Trying to find a job and rejections
During and after his Bachelor’s degree Jack tried and failed to get a job at a plenitude of positions. After spending three years going to a university Jack hasn’t managed to get a job even after applying to them 30 times. He spoke in one of his interviews about the time when KFC came to China. He said that 24 people went for the job interview. Twenty-three people were accepted, and the Jack Ma was the only person who wasn’t. He was also one of the 5 applicants to a job in the police force and was the only one getting rejected after being told, No, you’re not sensible.
And when he was asked regarding his rejections, he said “If you don’t give up, you still have a chance. Giving up is the greatest failure”. Overcoming the pain of rejections and treating rejections as opportunities to learn out and grow was what Jack Ma made from it.
After finally accepting all of his rejections and failures, Jack Ma visited the United States in 1995. The reason was a Governance task cast associated with the structure of highways. It was then that Jack Ma was introduced to the web and networks. Computers were pretty rare in China then, presented to the high, and the internet or E-mails were non-existent. The primary word he searched on the Browser application was ‘Beer’. Popped out the results from a variety of countries, still signs of China anywhere. He then searched ‘China’ and not one result popped out. He determined it had been time for China and its individuals to rush on the internet.
Jack Ma and Alibaba
Eventually, when persuading seventeen of his friends to invest and be in an association in his new e-commerce services. Alibaba corporation began from his flat. Initially, Alibaba didn’t have one penny in invest from outside investors. Still, they later raised $20 Million from Softbank and another $5 million from Goldman Sachs in 1999. Building trust among the people of China that a web-system of payment and packages transfers are secure was the most important challenge Jack Ma and Alibaba faced. It was a challenge that Jack Ma can cherish for his life.
He started his 1st booming company at the age of thirty-one. Jack Ma has never written even a single line of code or sold something to someone, but managed to raise one of the largest E-commerce networks within the globe. The organization grew very quickly and is following Wal-Mart currently in term of sales. Alibaba has become bigger than Jack Ma could ever imagine.
This is the story of the exceptionally positive and dedicated entrepreneur who has modified the aspect of business and internet in China, and also across the globe.