Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
HomeAll NewsMost read newsBusiness Leaders Biography
Portrait de Jack Ma
Birthday : 10/31/1964
Place of birth : Hangzhou (Province de Zhejiang) - China
Country of residence : China

Biography of Jack Ma 
Jack Ma is the CEO of Alibaba Group, the Chinese leader in e-commerce with counts five companies specialized in online shopping as Tabao.com, the second global site behind eBay and Yahoo China, the search engine and portal bought by Yahoo in 2005.

In his younger years, Jack Ma was a tour guide; his excellent command of English and his perfect knowledge of the province of Hangzhou where he comes from allow him to be really good in this job.

Graduated from Hangzhou Teachers' Institute in 1988, Jack Ma taught for some time before creating a translation agency that knows a big success thanks to U.S. and foreign companies who move in China.

During a trip he made in the USA as an interpreter, Jack Ma discovers computers and internet. Fascinated, he ordered to a friend a website for his translation agency.

Back in China, he borrowed $ 2,000 from friends and launched the website China pages, considered as the first commercial website in the country. The site has difficulties to find its business model and stops. Jack Ma got a job at the Ministry of Foreign Trade, a position which enabled him in 1998 to meet Jerry Yang, co-founder of Yahoo.

Jack Ma really wants to invest in the web.He managed to borrow $ 60,000 for the launch of Alibaba.com in 1999. Quickly, the company is a leader in the sector of business-to-business (B2B). The credibility won lets Jack Ma to raise $ 25 million dollars, allowed by the most demanding investors like Goldman Sachs, or the Japanese Internet entrepreneur Masayoshi Son.

In March 2002, Alibaba.com counts one million users and starts to generate profits.

In 2003, Jack Ma is launching on online auction with Taobao.com, which means "the search of treasure." It quickly emerged as a serious rival to eBay. Yahoo, which closely follows the evolution of Alibaba pays $ 1 billion in 2005 to enter in it capital at 40%. In return, the company Alibaba, valued at $ 4 billion takes control of Yahoo! China.

In 2008, Alibaba.com has 23 million visitors, 65% in China. It aggregates five companies: Taobao, the largest e-commerce website CtoC, Alisoft, which provides software for companies. Alipay, the first online payment service in China and of course Yahoo China, a search engine and portal Yahoo bought in October 2005.
Copyright © 4-traders.com
Citations
"From today onwards, in China Yahoo means a search engine and a search engine
means Yahoo."

"I think (in) search, we have a chance to win, When we took (over) Yahoo search, it was not good, and it is not good today either. We are here to make it better."


Most Read News 
08/06ELON MUSK : Musk says Twitter deal should go ahead if it provides proof of real accounts
RE
08/09ELON MUSK : Elon Musk sells 7.92 million Tesla shares worth $6.9 billion - SEC filing
RE
08/12MASAYOSHI SON : With Alibaba stake cut, SoftBank's Son cools toward China tech
RE
08/04JACK DORSEY : Dorsey-led Block posts loss for second quarter
RE
08/02ELON MUSK : Twitter queries banks on Musk's attempts to undermine $44 billion deal
RE
08/01DAVID EINHORN : Einhorn's Greenlight takes stake in Twitter - letter
RE
08/02STEPHEN KING : Horror author Stephen King says in publishing trial that consolidation hurts competition
RE
08/01STEPHEN KING : Stephen King goes to bat for U.S. gov't in case against book publishing mega-merger
RE
08/04ELON MUSK : Twitter rejects Musk's claims that he was hoodwinked
RE
10:52aANSHU JAIN : Former Deutsche Bank co-CEO Anshu Jain dies - Bloomberg News
RE
More news
Latest news about Jack Ma 
08/10SoftBank to gain $34 billion from cutting Alibaba stake
RE
08/04Alibaba revenue growth flatlines for first time as China's lockdowns bite
RE
07/31Alibaba strives to keep New York and Hong Kong listings
RE
07/29Alibaba added to SEC's delisting watchlist, shares fall
RE
07/29Hong Kong Stocks Drop to Two-Month Low; Tech Counters Slide
MT
More news