The name of our Chinese Alibaba is Jack Ma (or Ma Yun) who is Chinese entrepreneur and Philosopher. He is founder and Executive Chairman of Alibaba Group, highly Successful Internet Based Business. Jack was born on October 15, 1964, in Hangzhou, located in the southeastern part of China. He has an older brother and a younger sister. He and his siblings grew up at a time when communist China was increasingly isolated from the West, and his family didn’t have much money when they were young. Ma was scrawny and often got into fights with classmates. Ma had hobbies just like any other kid. He liked collecting crickets and making them fights, and was able to distinguish the size and type of cricket just by the sound it made. After then-US president Richard Nixon visited Hangzhou in 1972, Ma’s hometown became a tourist Mecca. As a teenager, Ma started waking up early to visit the city’s main hotel, offering visitors tours of the city in exchange for English lessons. The nickname “Jack” was given to him by a tourist he befriended.
He graduated in 1988 and started applying to as many jobs as he could. He received more than a dozen rejections before being hired as an English teacher. Ma was a natural with his students and loved his job — though he made only $12 a month at a local university. Ma had no experience with computers or coding, but he was captivated by the internet when he used it for the first time during a trip to the US in 1995. He had recently started a translation business and made the trip to help a Chinese firm recover a payment. Ma’s first online search was “beer,” but he was surprised to find that no Chinese beers turned up in the results. It was then that he decided to found an internet company for China.
Though his first two ventures failed, four years later he gathered 17 of his friends in his apartment and convinced them to invest in him and his vision for an online marketplace he called “Alibaba.” The site allowed exporters to post product listings that customers could buy directly. Soon, the service started to attract members from all over the world. By October 1999, the company had raised $5 million from one US Multinational Investment Banking firm and $20 million from one of JapaneseTelecom and Internet Company , that also invests in technology companies.
Now Alibaba is to China what Amazon and eBay (plus PayPal) are to the United States. Alibaba also controls China Yahoo!, which remains one of the country’s most popular web portals. Alibaba, which today is a powerhouse spanning business-to-business Web portals, online retail, shopping search engines, electronic payment services, and cloud computing. In the style of many Asian tech companies, it is attempting to become the center of consumers’ digital lives, though Alibaba takes a clear focus on the consumption aspect. Its Tmall (Amazon-like) and Taobao (eBay) online marketplaces are thriving, and the company’s flagship product, Alibaba, is popular the world over. The recent investments in Alibaba Group have made Jack Ma an extremely wealthy man. Forbes placed Jack at Rank 31 in the overall list of Richest Persons in the world and at the Rank 07 in the Technology segment of list of Richest Persons in the world. What makes Jack different from others in Technology segment is that all most all rank holders are from technical background, while Jack is from non technical background.
Recently Allibaba enter into spell of Mobile Operating System named- Aliyun. Though its matter of Controversy as many technocrats claims that Aliyun OS is forked from Android. Whether its hold true or not, but it’s sure Jack may get, secret password for hidden Coffer.
-By Prof. Vikas P. Ghogare