Jack Ma is one of those self-made billionaires with humble beginnings. Jack Ma was born in Hangzhou, located in the south-eastern part of China.
He was born and raised along with an elder brother and a younger sister during the rise of communist China and its isolation from the Western regions.
His parents were traditional Musicians-Storytellers and they didn’t make enough to be even considered as middle class during those days.
Former US president Richard Nixon’s visit to Hangzhou in 1972 improved the situation of tourism in his home-town and Jack wanted to make the most
of this opportunity. Jack always wanted to learn English as a kid and he spent his early mornings riding on his bike to a nearby park, giving English tours to foreigners for free. It was then he met a foreign girl who gave him the nickname ‘Jack’ for his name was hard to spell for her.
Jack, after graduating with a Bachelor’s degree in English, worked as an English teacher at Hangzhou Dianzi University with a pay of $12 a month!
Now here comes the part where it gets more interesting, even before he has received that degree and became an English teacher.
Jack Ma as an extremely lucky bloke who just became a billionaire in a snap. But it is safe to know that Rejections are synonymous with Jack Ma. You wouldn’t believe the number of times this man has been rejected and failed.
In his early childhood, Jack Ma Failed in his Primary School examinations, not once, but Twice! He Failed Thrice during his Middle School exams. When applying to universities after his High school, Jack failed the entrance exams thrice, before finally joining Hangzhou Normal University. He even applied and wrote to Harvard University ten times about being admitted – and got rejected each time. This was only during his education!
During and after his Bachelor’s degree Jack tried and failed to get a job at a multitude of places. After spending three years to get into a University, Jack failed to land a job after applying to them 30 times! He recollects in his interview, “When KFC came to China, 24 people went for the job. Twenty-three people were accepted. I was the only guy who wasn’t.” He also one of the 5 applicants to a job in Police force and was the only one getting rejected after being told,
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“No, you’re no good.”
After finally coming to terms with all of his rejections and failures, Jack Ma visited US in 1995, for a Government undertaking project related to the building of highways. It was then that Jack Ma was first introduced to the Internet and Computers. Computers were pretty rare in China then, given the high costs associated with them and Internet or E-mails were non-existent. The first word he searched on the Mosaic browser was ‘Beer’, and it popped out results from different countries, but signs of China anywhere. He then searched ‘China’ and not a single result popped out! He decided it was time for China and its people to get on the Internet.
Finally, after persuading 17 of his other friends to invest and join him in his new e-commerce startup – Alibaba, the company began from his apartment. Initially, Alibaba didn’t had a single penny in investment from outside investors, but they later raised $20 Million from SoftBank and another $5 Million from Goldman Sachs in 1999. Building trust among the people of China that an online system of payment and package transfers is safe was the biggest challenge Jack
Ma and Alibaba faced, a challenge that Jack will cherish for his lifetime.
Having started his first successful company at the age of 31 and even after never having written a single line of code or selling something to anyone,
Jack Ma runs one of the biggest E-commerce networks in the world. The company went on to grow rapidly, expanding all across the world, quickly growing out of its
China shell. Only second to Walmart now in terms of sales per year, Alibaba has become the E-commerce giant that Jack Ma has envisioned for it.
picture credit: economist.com