“Losers always think about the fear of Failing while Winners always focus on the Excitement of Winning”. This Line Suits Every Entrepreneur Working Out there. But there is a Person who took this to a Next Level. The Hero of Our Success Story Today is None other than Alibaba Founder Jack Ma, We are here to Visualize the Life Story of a Person who is a True Example of Rags to Riches. A True Story of Failure to Success.
Jack Ma is Currently is the Richest Man in China with a net worth of $43 Billion. He is counted as one of the most successful entrepreneurs of the World. But he was not the same from starting. Ma is proof that if a person doesn’t Quit even in extreme situations, then Success is not Away from him. He is Often Seen as a Global Ambassador for Chinese Businesses on the Internet, creating a Unique Identity for Alibaba Group.
Early Life | Jack Ma Success Story
Ma Yun Popularly Known as Jack Ma was born on September 10, 1964, at Hangzhou, China to a Lower Middle-Class Family. With an Elder Brother and Younger Sister, Jack’s parents were traditional Musicians. From an Early Age Itself, Ma was Interested in English. With the Visit of American President in his Home Town, the Place became a Tourist Spot. He took the Advantage of the Situation and Provided Free Tours as Tourist Guide to Foreigners Just for the Sake of Talking to Them and Learning English. This was the Time he Got the Name ‘Jack’ as the Earlier Name was difficult to Pronounce.
Failures | Life Story
In this World, if we would have to Define a synonym for ” Failure and Never Give Up”, the First Name that would pop in Our Mind would be No Other than Jack Ma. Although in 2014, through the IPO of Alibaba, Jack Ma Became a Billionaire In a Snap. But Life Tested him from Starting through Failures. In Primary School, Jack Failed Twice. As he Grew Up, in Middle School, Failure hit him Thrice. When he Appeared for Entrance Exam for College he failed Thrice Again. Jack Ma applied for Harvard too, that too 10 Times and Rejected for all of them. Truly, Jack Ma Success Story is nothing Less than Miracle.
After his Bachelor’s Degree in English at Hangzhou Dianzi University, he struggled to get a Job. He failed over 30 Times. When KFC Went to China, 24 People Applied for the Interview Including Jack Ma, 23 were Selected, only Jack was Rejected. When he Tried his Hands in Police, 5 People Applied and 4 were Selected. He was the only One Rejected by saying, “He’s No good”. He worked as an English Teacher in the Same University at $12/month after getting no Job.
The Entrepreneurship Career of Alibaba Founder is no Different. The first two ventures of Jack Ma Failed, the first one being a Website Related to China and Second One about a community of Chinese Pages registered through the domain chinapages.com which developed Websites for Chinese Businesses. Alibaba was the third Venture of Jack Ma.
Starting of Alibaba
In 1995, Jack Ma Went to the U.S. with his Friends where he Got Introduced to the Internet. The First thing he searched on the Internet was ‘Beer’. Results were a bit Shocking as there were no Results from China. This Made him Realize the Importance of the presence of China on the Internet as it manufactures goods that were cheapest in the World. Basis on this, along with his 17 Other Friends, Jack Ma started Alibaba in his Apartment. The Main Motive of Alibaba was to Connect the Chinese Merchants and Sellers to the Rest of the World.
For the First 3 Years of Alibaba, it Worked on Just the Savings of the 17 Friends with no Profit. Soon the Name Grew big and Attracted more and more Customers. Jack started to feel the Need for Investments in the Working of the Company. In 1999, Alibaba Attracted $5 Million from Goldman Sachs and $20 Million from Softbank. The company Grew Exponentially from that Point.
Alibaba Success | Jack Ma Life Story
To Give Competition to eBay in China, Alibaba Started its Sister Company Taobao Marketplace. With the growth of the Company, eBay Even offered to purchase Taobao, but Jack Denied. In 2003, Along with Taobao, he founded Alipay, Ali Mama, and Lynx. One of the Major Breakthrough in Alibaba and Jack Ma Success Story was in 2005 when Yahoo Founder Jerry Yang Invested $1 Billion in Alibaba for a 40% Stake. In September 2014, On Alibaba IPO, when it Was Listed on New York Stock Exchange(NYSE), it Collected a Whopping $25 billion. It Became One of the Most Valuable Companies from that Moment, making Jack Ma a Billionaire. The Alibaba IPO was the Biggest IPO Till Date.
This was the Life Story of Alibaba Founder, Jack Ma. He is also Focusing on Philanthropy through His Foundation Jack Ma Foundation focused on improving education, the environment, and public health. This Success Story proves the True Meaning of Never Give Up. With no Experience in Computers, Coding or Sales, he created the Company that is Dominating in these Sectors. Hence, Never Give Up and Everything is Possible.
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