Ma Yun, known professionally as Jack Ma, is a Chinese business capitalist who is the Creator and Administrative of “Alibaba Owner”. Born 10th October 1964.
Alibaba Owner (a.k.a. Ma Yun) was born on October 15, 1964, in Hangzhou, located in the southeastern part of China. Ma is currently 55 years old.
Ma schooled at Hangzhou Teacher’s Institute (popularly known as Hangzhou Normal University) where he graduated in the year 1988 with a Bachelor of Arts in English.
Ma has an older brother and a younger sister. They all 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. Alibaba Owner (Jack Ma) is married to Cathy Zhang, and their marriage is blessed with three beautiful children
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Jack Ma travelled to the United States concerning the Hangzhou city government in 1995, he had his first meeting with the Internet and saw the lack of Chinese Web sites as a huge business opportunity. On his return, he established China Pages, which created Web sites for Chinese businesses and was one of China’s first Internet companies. He left the company two years later, because of strong competition from the communications company Hangzhou Telecom, which had established a competitive company, Chinesepage.
In 1998 to 1999 Ma was head of an Internet company in Beijing that was backed by the Ministry of Foreign Trade and Economic Cooperation.
Ma convinced his team in the business to go back to Hangzhou with him and found the Alibaba Group, which launched a Web site that facilitated deals between small businesses.
Alibaba Owner was convinced that the micro enterprise-to-small enterprise Internet market had much huge potential for growth than the business-to-buyer Internet market had. Small businesses paid a membership fee to be certified as trustworthy sellers on Alibaba, with a huge fee being charged to businesses may be sell to buyers outside China.
Growth was rapid; in 2005 Alibaba attracted the attention of the American Internet portal Yahoo!, which bought a 40 percent stake, and in 2007 Alibaba.com raised $1.7 billion dollars in its initial public offering (IPO) in Hong Kong.
In 2003 Ma built a new company, the market to-buyer online marketplace Taobao (Chinese: “searching for treasure”).
The American company eBay, in teamwork with the Chinese company EachNet, had a market share of 80 percent, but Alibaba Owner felt that eBay-EachNet’s policy of charging users a transaction fee was a weakness. Taobao did not charge such a fee but made money from online advertising and the sale of additional services to users.
Ma’s intuition proved correct; by 2007 Taobao had a 67 percent market share, and eBay conceded majority ownership of its Chinese operations to the Chinese-language media company TOM Group, which created the subsidiary TOM EachNet. In 2011 Ma announced that Taobao would split into three companies:
Taobao Marketplace, where individuals could buy and sell goods; Taobao Mall, an online shopping portal; and eTao, a shopping-related search engine. In September 2014 the Alibaba Group debuted an IPO on the New York Stock Exchange that raised $21.8 billion. The IPO was the largest ever in the United States and gave the company a market value of $168 billion, the highest such value in IPO history at that time for any Internet company. In September 2018 it was announced that Ma would step down as chairman of Alibaba the following year, though he would remain on the board
Alibaba is one of the world’s largest retailer and e-commerce companies, boasts over 101,000 employees with NETWORTH of $500 billion. Jack Ma has an estimated net worth over $70 Billion USD.
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