- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
The story of Jack Ma (Alibaba founder & China's newest richest man) is amazing
Posted on 9/18/14 at 10:07 am
Posted on 9/18/14 at 10:07 am
LINK
His rags-to-riches journey is just as spectacular. A scrawny Ma, just over 5 feet tall, was rejected by KFC and other employers in his hometown of Hangzhou in east China. He believed in the Internet's business potential when few other Chinese did. Outlandish ideas earned him the nickname "Crazy Jack Ma." No one thinks he's mad now, even when dressing in wild wigs and lipstick for his annual meeting where he serenades a stadium full of Alibaba employees.
Like most Chinese parents back then, Ma's father beat him growing up. But there were childhood pleasures, too. He liked collecting and fighting crickets, an ancient pastime that Mao also banned. Ma developed an expert ear, able to distinguish the type and size of cricket just by the sound, his friend and personal assistant at Alibaba, Chen Wei, wrote in his 2013 book on Ma.
Starting at age 12, Ma says he awoke at 5 a.m. to walk or bicycle to Hangzhou's main hotel so he could practice his English with foreign tourists, who started trickling into the country after Mao's death in 1976. He did this for nine years and acted as a free tour guide to many, befriended several and later visited one family in Australia.
After twice failing the national college entrance exams, Ma entered what he called "Hangzhou's worst college." Graduating in 1988, Ma married his college sweetheart and taught English at a local college for five years, earning $15 a month. During that time, he also applied for, and failed to land, jobs at a local KFC, a hotel and the city police.
Determined to enter business, Ma set up a translation company, but he still had to peddle goods on the street to get by. He traveled to the United States in 1995 as a translator to help a Chinese firm recover a payment. The attempt failed, and the American who owed money pulled a gun on him, Ma says. But a friend in Seattle showed Ma the Internet, and an idea began brewing.
Ma noticed there was not a single online listing for "China" and "beer," unlike those that popped up for American and German beer. He returned to China and set up a listing site that he later sold to the government. After working in Beijing for an Internet firm under the Ministry of Commerce, Ma returned home to Hangzhou to pursue his dream.
With the help of more than a dozen friends who pooled their resources — just $60,000 — he founded Alibaba, a business-to-business online platform. The company now makes more profit than rivals Amazon.com and e-Bay combined, as China's burgeoning middle class are big spenders online, and small companies rely on Alibaba and its online payment system.
His rags-to-riches journey is just as spectacular. A scrawny Ma, just over 5 feet tall, was rejected by KFC and other employers in his hometown of Hangzhou in east China. He believed in the Internet's business potential when few other Chinese did. Outlandish ideas earned him the nickname "Crazy Jack Ma." No one thinks he's mad now, even when dressing in wild wigs and lipstick for his annual meeting where he serenades a stadium full of Alibaba employees.
Like most Chinese parents back then, Ma's father beat him growing up. But there were childhood pleasures, too. He liked collecting and fighting crickets, an ancient pastime that Mao also banned. Ma developed an expert ear, able to distinguish the type and size of cricket just by the sound, his friend and personal assistant at Alibaba, Chen Wei, wrote in his 2013 book on Ma.
Starting at age 12, Ma says he awoke at 5 a.m. to walk or bicycle to Hangzhou's main hotel so he could practice his English with foreign tourists, who started trickling into the country after Mao's death in 1976. He did this for nine years and acted as a free tour guide to many, befriended several and later visited one family in Australia.
After twice failing the national college entrance exams, Ma entered what he called "Hangzhou's worst college." Graduating in 1988, Ma married his college sweetheart and taught English at a local college for five years, earning $15 a month. During that time, he also applied for, and failed to land, jobs at a local KFC, a hotel and the city police.
Determined to enter business, Ma set up a translation company, but he still had to peddle goods on the street to get by. He traveled to the United States in 1995 as a translator to help a Chinese firm recover a payment. The attempt failed, and the American who owed money pulled a gun on him, Ma says. But a friend in Seattle showed Ma the Internet, and an idea began brewing.
Ma noticed there was not a single online listing for "China" and "beer," unlike those that popped up for American and German beer. He returned to China and set up a listing site that he later sold to the government. After working in Beijing for an Internet firm under the Ministry of Commerce, Ma returned home to Hangzhou to pursue his dream.
With the help of more than a dozen friends who pooled their resources — just $60,000 — he founded Alibaba, a business-to-business online platform. The company now makes more profit than rivals Amazon.com and e-Bay combined, as China's burgeoning middle class are big spenders online, and small companies rely on Alibaba and its online payment system.
Posted on 9/18/14 at 10:09 am to RedRifle
quote:
He liked collecting and fighting crickets, an ancient pastime that Mao also banned.
What? Why would something like that be banned?
Posted on 9/18/14 at 10:11 am to MFn GIMP
quote:Insect cruelty bro
What? Why would something like that be banned?
Posted on 9/18/14 at 10:11 am to MFn GIMP
Crazy. During the cultural revolution Mao tried to ban any ancient ritual or hobby. He literally tried to CHANGE 3,000 of culture and history.
Posted on 9/18/14 at 10:11 am to RedRifle
quote:Damn.
taught English at a local college for five years, earning $15 a month.
Posted on 9/18/14 at 10:12 am to MFn GIMP
They probably worship them or something
Posted on 9/18/14 at 10:17 am to RedRifle
quote:
Starting at age 12, Ma says he awoke at 5 a.m. to walk or bicycle to Hangzhou's main hotel so he could practice his English
Dude has "it".
/thread
Posted on 9/18/14 at 10:23 am to Meauxjeaux
quote:
What? Why would something like that be banned?
gambling
Posted on 9/18/14 at 10:24 am to RedRifle
Was taught in country that Ali baba meant thief in Arabic. Have never trusted this company because of that.
Posted on 9/18/14 at 10:25 am to BigEdLSU
I'm pretty sure I've met him.
Posted on 9/18/14 at 10:26 am to RedRifle
quote:
The company now makes more profit than rivals Amazon.com and e-Bay combined,
Well hopefully ebay makes a lot of profit because amazon doesnt
Posted on 9/18/14 at 10:36 am to RedRifle
quote:
The company now makes more profit than rivals Amazon.com and e-Bay combined, as China's burgeoning middle class are big spenders online, and small companies rely on Alibaba and its online payment system.
Tigerdroppings.com makes more profit that Amazon.
Posted on 9/18/14 at 11:06 am to RedRifle
No thanks. Not buying it.
Posted on 9/18/14 at 11:11 am to RedRifle
Cool story, but I just cannot bring myself to trust investing in a Chinese company, who has a disclaimer on their investor summary that they cannot control the chinese gov't
Posted on 9/18/14 at 11:15 am to UL-SabanRival
quote:
No thanks. Not buying it.
This, the stories published about most uber successful Chinese CEO's are about as believable as Kim Jong Il's personal history.
This post was edited on 9/18/14 at 11:16 am
Posted on 9/18/14 at 11:16 am to RedRifle
So how rich is this dude now? OT Baller? Or just OT Upper Middle Class?
Posted on 9/18/14 at 11:18 am to RedRifle
quote:
Like most Chinese parents back then, Ma's father beat him growing up.
ETA: as long as no switch involved it was OK
This post was edited on 9/18/14 at 11:19 am
Posted on 9/18/14 at 11:29 am to JimMorrison
quote:
So how rich is this dude now?
He's solid OT baller...Net Worth will be well into the billions
Posted on 9/18/14 at 11:30 am to JimMorrison
net worth is $21.9 billion,according to the Bloomberg Billionaires Index
Popular
Back to top
Follow TigerDroppings for LSU Football News