In 1995 he learnt computer. It was the web which drove him to begin his own business. Before starting Alibaba, he ran a small business like China Yellow Pages and a translation company and confronting disappointment. He chose the new business name as Alibaba, a familiar name and easy to spell.
“The Internet belongs to young people”- Jack Ma
On nineteenth September 2014, Alibaba did its first open appearance and raised $25 billion. There are yet many people around the globe who know very less about Jack Ma and his company Alibaba.
Today with it’s just about 100 million clients, 35 thousand employees, is the greatest E-business organization in China. Alibaba’s mission was to encounter challenges of small business, sales, and marketing, management and financing through information technology. With features like a platform where individuals work with each other on a worldwide scale and take a less rate of the transactions done on it. Thus, Alibaba can keep its costs low. Alibaba has turned into the guardian of e-commerce, which gives it control over profound methods of data and permits it to totally overcome the market. What is the reason behind this? The reason is straightforward: Alibaba completely focuses on customer satisfaction through their product and services and also does what makes them happy. So, there is a less risk of being avoided for the companies that join Alibaba.
“Over the past two years, we have seen growing resistance to globalization due to the uneven distribution of its benefits.”- Jack Ma
The 20-year journey:
In 1999 when Jack Ma started his online marketplace Alibaba, there were only 17 friends with him. He showed a concern in his speech about the Chinese online marketplace is not being explored. Later that people might have started exploring it but only in 2002, they received their first revenue as $1. By then it was almost framed and was listed on the Hong Kong Stock Exchange in 2007.
Now with 70000 brands and approximately 185 million buyers, it gained revenue of $1500 billion in the first three-quarter of 2016. Jack Ma with such huge revenue has the fear that Government of China might take over the company and its assets. So he has designated the powers to the small groups of insiders. It also owns many sites like-
- Alipay for online payments
- Aliyun for cloud infrastructure services
- TMall for business to consumer e-commerce
- Taobao for consumer to consumer e-commerce
- Yunos for mobile apps
Alibaba’s also started giving loans to the small businesses, at a small amount like five thousand dollars and a default rate of 0.9%. Next step is to merge with the Indian market. It has started with Paytm with 25% stake.
Jack Ma effectively redesigned the organization’s operations, including shutting numerous universal branches and concentrating on reinforcing Alibaba’s position in the Chinese market. From there on, Ma extended the administrations of Alibaba and re-engaged its worldwide expansion system.
Accepting the organization keeps up this force all through 2017, Alibaba’s stock – as with Amazon – will exchange more on the suspicion that the cloud can drive net revenues higher. Furthermore, with Alibaba now getting a charge out of strong exhibitions in every one of the four revealing fragments, driven by a 41% flow in the center e-commerce business, which rose to $4.27 billion, BABA stock could reach $120 in 2017, conveying around 36% returns.
The face of traditional e-commerce is going to change over the coming years. Alibaba will continue to collaborate with U.S companies. Small firms will be benefited from the collaborations. Recently Jack Ma’s meeting with Donald Trump would yield results if the promises made go well.
- Posted by Mark Williams
- On May 31, 2017