Jack Ma – World’s E-commerce Giant
Jack Ma – World’s E-commerce Giant
Pulkit Sharma || The CEO Magazine
Jack Ma is a Chinese entrepreneur and the co-founder of the biggest business to business e-commerce website in the world, Alibaba. He the richest man in China, second richest man in Asia after Mukesh Ambani, a business magnate, philanthropist, investor and politician.
He is one of the world’s leading business leaders, therefore, he is seen as a global ambassador for Chinese business and he was also listed in world’s most powerful leaders by Forbes and Bloomberg. He was announced to be on the second place in the list of “World’s 50 Greatest Leaders” by Fortune in the year 2017. In 2018, he decided to step down from the position of CEO of Alibaba and pursue his interest in educational reforms due to this Daniel Zhang was made the new CEO of Alibaba.
Despite this, he is still the richest man in China with a net worth of over $40 billion and one of the richest person in the world right now. In the list of World’s Most Powerful People by Forbes magazine, he was ranked at 21st position.
Early Life and Education
Jack Ma also known as Ma Yun was born on 10th September 1964 in Hangzhou, China. He was very interested in the English language and began to learn it at a very young age by talking with English – speakers at the Hangzhou Hotel. When he was nine years old he used to guide tourists so he can practice English. One of the tourists became his pen friend, who used to call him Jack because his Chinese name was tough to pronounce.
Ma was an intelligent boy but he was struggling during his college days as it took him four years to get his bachelor’s in English from Hangzhou Normal University in 1988. Later he became a lecturer in English and International Trade at Hangzhou Daianzi University. He also faced rejection from Harvard Business School for more than ten times.
Alibaba group Ltd. is the biggest multinational corporation of China which was founded on 4th April in the year 1999. Alibaba is known to be the e-commerce, internet and technology company which provides various services like business to business (b2b), business to consumer (b2c) and consumer to consumer (c2c) from their website or application. They are also specialized in electronic payment, cloud computing and shopping search engines. It works in various fields of business around the world and Alibaba was also addressed as one of the most admired companies by Fortune Magazine.
After its initial public offering (IPO), Alibaba was valued at $25 billion which was the highest valuation in the history after an IPO. Market value of Alibaba was raised to $231 billion by the end of September 2014 and at the end of 2018, it was valued at $350 billion. Alibaba is known to be one of the most valuable companies in the world and in the Global list of biggest companies it was ranked at 59. In Asia, Alibaba is the second most valued company after Tencent and in the world, it has the 9th highest brand value.
Alibaba is the largest e-commerce and Retail Company in the world, biggest AI and Internet Company in the world and one of the largest investment companies in the world.
Alibaba has also surpassed the biggest US retailers like Amazon, Walmart and eBay combined in online sales and profits with the help of their e-commerce portals like Alibaba.com for B2B, Taobao.com for C2C and Tmall.com for B2C. They have also set the record for highest-ever single-day sale in China and they are now all set to enter into media industry.