Jack Ma : The legend behind largest ever Tech IPO

We all have a dream, dream to grow, to touch the new heights, to show the world your potential, and let everyone know the persona which we possess. While chasing our dreams sometimes we get failed, we got a huge push against our desires, and this push keep working upon an individual until he or she doesn’t accept the defeat. But the one out of hundred choose to fight back, because their dreams are bigger than their humiliation, their desires are so huge that they don’t even afraid to go beyond the limits. Well all this philosophy here is not just theory. We’ll gonna see a true legend who will make every single word of above stated theory true and he is none other than JACK MA.

Ma Yung Officialy know as Jack Ma, In the country of most people in the world, he set a record of being richest. From lower middle class to being the richest in the country was a difficult journey. It wasn’t like a miracle happened another day. A boy in his teenage used to listen an American news channel the “voice of America” with a dream in his heart that one day he become a teacher of English language. Back in those days china had very limited resources. But who can stop a storm, the boy chooses to fight back against all the odds rather to look for an escape plan. He started waking up early in the morning and took a visit to hotel, and there he used to offer the visitor a city tour and in exchange they had to teach him English lessons. This is how the journey begins.
As we pass the level one in any game, there is level two, which has its difficulty level higher than the previous one, same happen in the game of life. One hurdle cross, another is waiting with more rigorous situations. After his high school, when jack ma went for college, he failed twice there, while attempting the entrance exam. In his third attempt, he passed the exam and took admission. There he learned English language. In 1988, after his graduation he applied for various jobs, but get rejected. Even KFC rejected him and didn’t allowed him to serve his services as a manager. By this time, he had become proficient enough in English and in 1995 he got a part-time job as an interpreter for deals between Chinese and American businesses.
This is time when ball reached in his court. Now the fortune is standing at his door and knocking. It was during this time that he got to visit a friend’s home in Seattle, and encountered his first computer and the Internet. Jack Ma had no knowledge of computers or coding. His first online search was “beer,” but he was surprised to find that there are no Chinese beers at the results. That was the point when he decided to found an internet company for China. Jack Ma came back to China and started a China Pages for small businesses, to help establish their web presence

China Pages was a flop. But four years later, Ma took another stab at an internet business. He called his second company Alibaba. ALIBABA GROUP was founded by Jack MA along with other 18 members in 1999, a former English teacher from Hangzhou, China. The founders started, in the belief that the Internet would level the playing field by enabling small enterprises to use Internet to grow and compete more effectively in the domestic and global economies. Soon, the service started to attract members from all over the world. Alibaba Group set a record for the largest US-listed IPO in the U.S. history.

“Our competitors are not in China but in Silicon Valley,” says Ma in the video, which is included in a documentary about the company, “Crocodile in the Yangtze,” made by a former Alibaba vice president, Porter Erisman. “We can beat government agencies and big, famous companies because of our innovative spirit.”

Such Silicon Valley-style bluster was new to China, but Ma delivered. Over the next 15 years, he helped propel Alibaba through technical and financial challenges and a battle with eBay Inc to become the world’s biggest online bazaar.

Along the way, Alibaba had to develop e-commerce infrastructure its Western counterparts took for granted. Few Chinese used credit cards, so it created Alipay, a payments system that helped online sales win acceptance by allowing wary customers to receive goods before releasing money to sellers. The company worked with shippers to improve their reliability and held trade shows to persuade entrepreneurs to go online.

Alibaba has expanded into personal finance, games, video and other services. In March, it was one of 10 companies picked by Beijing to set up China’s first privately financed banks since the 1949 communist revolution. It is dipping a toe abroad, with a $215 million investment in March in Tango, a California-based mobile message service, and plans to launch a US e-commerce site.

It would be wrong to call Alibaba just an e-commerce company. It is China’s, and by several measures, world’s largest online commerce company. The Alibaba group comprises of Taobao, Tmall, and Alibaba.com. In total, the group has hundreds of millions of users, and a marketplace with millions of merchants and businesses. Alibaba handles more business than any other e-commerce company. More than $240 billion of merchandise changed hands on Alibaba in 2013. This is more than that of Amazon and eBay combined! Ma has never been a typical tech CEO. He failed the college entrance exam twice before he finally got in. He founded an enormous tech company, yet he had studied to become a teacher and still doesn’t know how to code.

Sustainability

Alibaba Group is highly committed for its sustainable corporate responsibility projects, and it achieves these by extending the benefits of its ecosystem to the community at large. Alibaba Group believes the best way to do this is by building these elements in its business model.

Future Predictions

In his recent letter to the shareholders Alibaba Group executive chairman Jack Ma predicted three more decades of rapid technological change across industries.“Throughout history, technological disruptions have followed similar trajectories: 20 years of technological disruption followed by 30 years of further rapid change as new technologies are applied throughout society,” he wrote.

Alibaba’s pitch now is to invite retailers into its ecosystem of online selling platforms, advertising venues (like its Youku Tudou video site), and cloud computing offerings.
Ma said the Internet’s effect on industry marks an inflection point as important as the introduction of electricity. “Over the next 30 years, with computing power as the new `technology breakthrough’ and data as the new `natural resource,’ the landscape of retail, financial services, manufacturing and entertainment will be transformed.”

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Jack Ma : The legend behind largest ever Tech IPO
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Jack Ma : The legend behind largest ever Tech IPO
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Jack Ma and his 18 members team started from a small room and now are the largest tech IPO
Aditya Gupta
Startupwine
Startupwine
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