Alibaba did begin with a dramatic and interesting story. The back days of how Alibaba was started by Jack Ma with its first reach to the world is itself an extraordinary content to write on. This is the story of the life of a man who has impacted the entire economy and internet industry of China almost single-handedly.
Here, You Will Come To Know The Successful And Inspiring Alibaba Startup Story Of Jack Ma…
★ Early Life Of Jack Ma.
The full name od Jack Ma is Ma Yun a.k.a. He was born in Hangzhou (a city near Shanghai) which is located in the south-eastern part of China. He was raised along with his elder brother and a younger sister. Being born to a below-middle class family, his parents were traditional Musicians-Storytellers.
Jack always wanted to learn English as a kid and he spent his early mornings riding his bike to nearby places to converse with foreigners and guide them around the city. It was then he met a foreign girl who gave him the nickname ‘Jack’ for his name was hard to spell for her.
Later, Jack started working as an English teacher even before he had received that degree and became an English teacher at Hangzhou Dianzi University with a pay of $12 a month. Along with that, he also continued to further pursue his studies at the Beijing-based Cheung Kong Graduate School of Business (CKGSB) and graduated in 2006.
Jack had also started a translation company as a result of which he did visit the United States, in 1994. That is where he discovered the internet for the first time ever.
★ How Has The Journey Of Alibaba Started?
Coming back, to China he searched the internet but, to his notice he didn’t find any general information from China. He soon realized just how much potential internet held. This resulted to which he along with his friend decided to make a website on China.
Resulted, giving a priority on his decision Jack collected $20,000 and started an Internet company in April 1995. The company was called “China Yellow Pages” which was mainly dedicated to creating websites for companies which got the title of being the first internet business in China.
In the next three years, this company went on to make 5,000,000 Chinese Yuan (U$800,000 back then). And then after a period of time, Jack was pressured to get into a joint venture with China Telecom and then he lost control of the company.
And after working with them for roughly a year, in 1999 he quit the “China Yellow Pages” company. And, then he finally decided to start Alibaba.com with a team of 18 co-founders.
★ This Was How Alibaba Finally Started.
Eventually, after the final planning, he moved back to his hometown Hangzhou along with his 18 member team and with an investment of 500,000 Yuan from his pocket, Jack formally established Alibaba in his apartment.
Alibaba.com was basically an online marketplace without any inventory of their own but it leveraged exporters to post product listings that buyers could browse and purchase. Soon, this website began massive marketplace hit and started attracting buyers from across the globe.
★ The Growing Years Of Alibaba.
When Alibaba was growing with flying colors Jack also started in the Chinese Internet market with his newly found products like Taobao Marketplace, Alipay, Ali Mama, and Lynx. He also launched another China marketplace which is currently known as 1688.com for the domestic wholesale trade like that of Alibaba, but 1688.com was in Chinese version.
★ The Rapid Expansion Of Jack Ma’s Startups.
Soon, with its rapid expansion, the Alibaba Group received a $1 billion investment from Jerry Yang- the founder of Yahoo. Since then, not only has Jack Ma become one of the richest in the world, but Alibaba Group has also become one of the most valuable tech companies in the world as well.
And today Alibaba Group is present and growing its business base with a Market Cap of $200+ billion along with its nine major subsidiaries – Alibaba.com, Taobao Marketplace, Tmall, eTao, Alibaba Cloud Computing, Juhuasuan, 1688.com, AliExpress.com, and Alipay.