PresentationOn

History of Successful New Ventures

By

SOHRAB KAKAR

MBA- Sem lll

Mkt “C” Division

Jack Ma or Ma Yun

.

Biography

Name: Jack Ma or Ma Yun

Born : October , 15, 1964

Country : China

Founder : Alibaba Group

Net Worth : $49 billion

Position : Executive Chairman of Alibaba Group

Beginning to Success

At an early age, Ma developed a desire to learn English so he

rode his bike each morning in order to go to a nearby hotel and

converse with foreigners.

He would guide them around the city for free in order to

practice and improve his English.

He did this for nine years.

Beginning to Success He became pen pals with one of these foreigners and she was

the one who gave him the name "Jack", because his real

Chinese name was too difficult to pronounce.

Later in his youth, and although he failed the university

entrance exam three times.

and went on to further education and finaly graduated in 2006.

Beginning to Success At first he started building websites for Chinese companies

with the help of friends in the US.

He has said that "the day we got connected to the Web, I

invited friends and TV people over to my house," and on a very

slow dial-up connection, "we waited three and a half hours and

got half a page.... We drank, watched TV and played cards,

waiting.

But I was so proud.

I proved (to my house guests that) the Internet existed.

He encountered a computer for the first time at the age of

thirty-three.

Career

In 1994, Ma heard about the Internet.

In early 2000, he went to the US and with his friends' help he got introduced to the Internet.

During his first encounter he searched the word "beer".

Further, he tried to search for general information about China and again was surprised.

So he and his friend created an "ugly" website related to China.

Within five hours of creating the website he had received emails from some Chinese wishing to know about him.

This is when Ma realized that the Internet had something great to offer.

AlibabaIn April 1995, Ma, his wife and a friend collected twenty

thousand dollars and started an Internet company.

Their company was dedicated to creating websites for

companies.

He named their company "China Yellow Pages.“

Within three years, his company had made U$800,000.

Alibaba From 1998 to 1999, Ma headed an information technology company

established by Government

In 1999, he decided to quit and went back to Hangzhou with his team

in order to found Alibaba in his apartment with a group of 17 friends.

He started a new round of venture development with U$800,000.

Alibaba is a China-based B 2 B marketplace site which currently

serves more than 79 million members from more than 240 countries

and territories.

Alibaba Group Ma wanted to improve the global e-commerce system and from

2003 he founded (Taobao, Alipay, Ali Mama and Lynx.

After the rapid rise of Taobao, eBay offered to purchase the company but Ma rejected their offer, instead garnering support from Yahoo $1 billion investment.

In September 2014 it was reported Alibaba raised $25 billion, the largest initial public offering in US financial history.

Ma now serves as executive chairman of Alibaba Group, which is a holding company with nine major subsidiaries.

Rewards In October 1999 and January 2000, Alibaba twice won a total

of a $25 million international venture capital investment.

The program was expected to improve the domestic e-

commerce market and perfect an e-commerce platform for

Chinese enterprises, especially SME.

Rewards In 2004, he was chosen “Top 10 Business Leaders of the Year”.

In 2005, Ma was selected by the World Economic Forum as a “Young

Global Leader”.

And was named one of the “25 Most Powerful Businesspeople in Asia”

by Fortune magazine.

in 2007 He was selected by Businessweek as a “Businessperson of the

Year”.

in 2008 one of the 30 “World’s Best CEOs” by Barrons .

In May 2009, Ma was honored by Time magazine with inclusion into the

Time 100 list of the world’s 100 most influential people.