You must have heard of Alibaba. But do you know what it took for Jack Ma, the founder of Alibaba, to build this largest online marketing platform from the scratch? Well, this blog has got it covered. In this blog, AVCOE inspires you with the story of how a man impacted the entire economy and the internet industry of China almost single-handedly. From starting an apartment business to pulling off the biggest IPO in history, Jack Ma has come a long way to become the richest man in Asia now.
The story of Jack Ma
Jack Ma is a true rags-to-riches story. He grew up in a poor family in Hangzhou, China. He failed middle school three times and his college entrance exam twice. He finally graduated in 1988 and started applying to as many jobs as he could. He applied to 30 different jobs and was met with rejection. In an interview, he said that out of the 24 people who had applied for the job at KFC, 23 were given the jobs. He was the only one to get rejected.
Even after facing continuous rejection, Jack Ma had a gut feeling to not give up. He learned about the Internet when he was in the US. It was of great interest to him and he soon realized that China then still had not embraced the Internet revolution. That is when Jack Ma began creating the e-commerce platform Alibaba.
The revolution of Alibaba
Alibaba came up in 1999 after Jack Ma failed two of his internet ventures miserably. He started Alibaba with 18 of his friends in a small apartment in Hangzhou, China. With an initial investment of $5 million, Jack Ma launched Alibaba’s online retail platform. The rest is history. Nineteen years later, Alibaba is the world’s largest e-commerce platform with a market value of a whopping US $231 billion.
From having almost no funds to being a massive success, Jack Ma has proved that rejections are a part of the process and shouldn’t deter you from your goal. Thus, he rightly said, “Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.”
Stay tuned for more interesting entrepreneurship blogs!
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