The story of Alibaba co-founder Jack Ma

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The billionaire Jack Ma is an exceptional example of how persistence, determination and vision can create a dramatic impact on the future of an individual and a nation.

He is a co-founder of the Alibaba Group, which is the world’s largest retail e-company. The company empowers small business owners to set up in business and utilise the network for their commercial needs.

While in the USA during the mid 1990s Ma noticed that China has hardly any online representation. He went back to China to create a website. His endeavours caught the attention of investors and he managed to raise money for a directory on China which he called ‘China Pages’ the company became successful within a few years and Ma would use his website business building expertise to launch the Alibaba company in 1999.

Alibaba would grow from strength to strength and with early support from the billionaire Yahoo co-founder Jerry Yang and the richest man in Japan, multi-billionaire Masayoshi Son would gain valuable insights on how to turn his business into one of the largest corporations in the world.

A stroke of prescient genius from Ma would launch the company Alipay, which would enable users to pay through his gateway system. The company is now (June 2019) one of the world’s most valuable start-up companies with a valuation of $150 billion. Alipay has now rebranding to be called ‘Ant Financial Services Group’ which is ironic considering its size.

Ma stepped down from the chairman role of the Alibaba Group in Sept 2018 and even though he is no longer at the helm of the company, his vision to create a company that will last for at least 101 years is well on course to be fulfilled.

Jack Ma, Founder of Alibaba

Company: Alibaba

Channel: CNBC

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