Jack Ma : Early Life, Struggles & Establishment of Alibaba

We come across so many people in our life, but only a few inspire us. The only thing that sets these people apart from others is the stories that they have to tell. We grow up listening to stories about heroes, and that’s how we learn to dream big and have big in life. Studies also found that such levels positively impact our thinking, make us more generous, and improve our overall outlook on life.

So, here’s a story of one such great person that inspires thousands of people around the world to get the best for themselves in life. It’s the story of the Man who impacted and changed China’s entire economy and Internet industry. It’s the story of Jack Ma, who is nothing less than a boon to China for introducing them to the internet world.

Who is Jack Ma?

Jack Ma is a Chinese business magnate, investor, and philanthropist. He is popularly known among people as the founder of giant e-commerce Alibaba and a stakeholder in its sister firm Alipay which is an e-payment portal. In addition, he is also the co-founder of Yufeng Capital, a Chinese private equity firm. 

Jack Ma was one of the wealthiest men in China in 2014, with a net worth of $25 Billion. As of March 2022, the net worth of Jack Ma is $37.1 Billion making him the Fifth richest Man in China. Alibaba, founded by Jack Ma, is not an e-commerce website. However, it is worth more than Facebook and possesses more goods than Amazon and eBay combined. 

Now reading this might make you feel that Jack Ma is one of those who have never seen the dark. But don’t be mistaken about the numbers. Jack Ma had to pass through many bad phases in life and struggled a lot to get where he is now. He is a self-made Billionaire who faced many challenging situations and overcame those situations to become what he is now.

Jack Ma – Early life

Jack Ma was born on 10th September in Hangzhou, China. Since his early life, Jack Ma has been interested in learning English. Being a citizen of a small city in China was quite challenging for him to do so. But he never gave up on getting and studying an English Major. From an early age, Jack Ma used to listen to English radio channels. 

Several Rejections in the path of Jack Ma

In 1983 Jack Ma appeared and failed to qualify three times for entrance to the undergraduate college due to his weakness in maths. But somehow, in 1984, after his 3rd attempt, he was promoted to the undergraduate foreign language major due to his excellent grasp of the English language. 

This was not just the failure faced by Jack Ma. After his graduation, Jack Ma failed twice to qualify for the entrance exam for Hangzhou Teachers college. He was able to secure the position in his third attempt. After that, when Jack Ma went to apply for jobs, 31 different firms rejected him. He even applied for KFC, 24 candidates applied for the job, and we were selected, but only he was rejected. 

The fantastic thing about Jack Ma is that even after so many failures and reactions, he never gave up on life. Instead, he kept trying to do something. His motivation and the firm belief in doing something never let him stop.

A trigger point in JackMa’s life

Jack Ma successfully established a translation agency in the year 1994. But this was not where Jack Ma was going to settle. In the same year, he got a chance to visit the US, and with the help of his colleagues, he got introduced to the Internet. In one of his interviews, he mentioned that the first thing he searched on the Internet was Beer in different countries. He was surprised to see that the name of China was not on that list. So he also searched for information related to China. But to his shock, China existed nowhere on the Internet. 

This was when Jack Ma created the first website related to China, Ugly. After an hour of launching the website, he received emails from Chinese investors asking about it. So in April 1995, Jack Ma and a computer teacher opened another office for Chian Pages. This was his second company and generated $800000 in three years.

Establishment of Alibaba 

In 1999 Jack Ma returned to China after quitting his head position in one of the e-commerce firms in the US. He was back with new ideas and founded a China-based business-to-business E-commerce website named Alibaba. He started this with a group of 18 friends in a small apartment in China. By the end of January 2000, he managed to gain foreign investment of $25 Million to change the entire view of the e-commerce market in China. 

Jack Ma had started the first E-commerce company and was growing it in China. But this was still not a success for him. He had to struggle to make people in China believe in online transactions and the online way of purchasing goods. His determination and hard work made people in China trust the internet and e-commerce shopping. He kept improving and making Alibaba even big each day. In 2014, he celebrated the massive success of his big e-commerce website with a revenue of $ 25 Billion. 

An inspiration for all

This is how Jack Ma created and made Alibaba the big e-commerce website at 31. Alibaba.com is not only famous in China, but with its growth each day, it has become world famous. This success of Jack Ma earned him many awards. These awards are not just for the establishment of Alibaba but his thinking and revolution in China regarding the Internet.

From several failures in life to never giving up, the success story of Jack Ma inspires us to struggle until we find something that can make us notable in life.

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