Topic Reading-Vol.2717-9/19/2019
Dear MEL Topic Readers,
Internet magic: A look back at Jack Ma at
Alibaba
He’s one of the world’s greatest Internet
tycoons. Jack Ma, an ex-English teacher in China, crated Alibaba in 1999 in
Hangzhou, China. The e-commerce giant opened Taobao, the online shopping
platform in 2003, created Alipay, an online payment platform, and launched
11.11 sales event in 2009. The company raised $25 billion by an IPO, Initial
Public Offering, in New York Stock Exchange in 2014. Alibaba groups provide consumer-to-consumer
(Taobao), business-to-consumer (Tmall), and business-to-business (Alibaba.com)
sales services via web portals, as well as electronic payment services,
shopping search engines, and cloud computing services. Though often compared
with its US rival, amazon, Alibaba isn’t involved in direct sales or doesn’t
own any warehouses. They simply help small businesses and merchandisers reach
consumers.
The founder and chairman of Alibaba, 马云 (Ma Yun), more known as Jack Ma around the world, completely
retired from the company on his 55th birthday.
When he was young, he applied for 30
different jobs and got rejected by all. He also applied Harvard Business School
ten times and rejected. Neither the employers nor admission officers noticed his
potential contribution or donation.
Now, what will he do? Will anyone decline his
application?
Enjoy learning a brief history of one of the most
successful and influential Internet business entrepreneurs.
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