Jack Ma was born on 10 September 1964 in Hangzhou, China. He developed an early interest in English through holding conversations with English-speakers at Hangzhou International hotel. After 9 years of riding 27 km on his bike to give tourists tours, he joined Hangzhou Teachers Institute, currently known as Hangzhou Normal University. Jack was elected the head of the student council, and after his course study, he graduated with a Bachelor of Arts in English.
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After being rejected from 30 different jobs, Jack formed his own company (Hangzhou Haibo Translation Agency). In 1995, Jack moved to the United States with his friends, who introduced him to the internet. Together with his friends, they created a website based in China, and within 3 years, their company had made more 5 million Chinese Yuan.
In 1999, Jack Ma went back to China with his friend and founded Alibaba. The company went on to win $25 million foreign venture capital investment by January 2000. In 2003, he founded Taobao Marketplace, Tmall, Alipay, Ali Mama, and Lynx to improve the global e-commerce system. Ma made an announcement on 10th September, 2018, that he was going to step down as the CEO of Alibaba. At that time, reports came out that he was being forced out of his post by the Chinese government, but he denied and stated that he wanted to focus on philanthropy through his foundation. Daniel Zhang took over as the head of Alibaba in 2019 when Ma stepped down.
Failures Of Jack Ma
Jack’s failures started in primary, and when he joined the middle school. The cycle continued when he failed his college entrance exams three times but continued to push on. Jack also applied 10 times to be admitted to Harvard University but was rejected on all those occasions. His situation worsened after college when he applied for 30 jobs, including KFC, but could not make it. Luckily, his failures became steps towards his success.
Jack Ma became a billionaire through hard work and determination. He lived his entire life through trial and error but never stopped pushing forward. He came up with Alibaba, which is the pillar to his success through his willingness to try.