The story of ” THE RICHEST MAN IN CHINA “

Around 10 years ago, when we talked about China, the things that popped up in my head were Panda, The Great wall and counterfeit goods. However, there are a number of things that have been added over the ten years and “ Alibaba ” or “ Jack Ma ” will be one of the very first words that come up whenever we talk about China.

What is Alibaba and who is Jack Ma? Let me tell you about his story…

Jack Ma's quotes about his thought
One of Jack Ma’s quotes about business cr.yourstory

Jack Ma who is the founder and chairman of Alibaba who is the richest man in China and his estimated net worth has topped $47 billion. He grew up in a poor family. After high school, he applied for university but he failed the entrance exam for twice. In the end, he could attain to go to Hangzhou Teacher’s Institute and then worked as an English teacher in his first job.

One day, he had a chance to use internet first time during a trip to the US. His first online search was “ beer ” and he was so surprised that there was no Chinese beer on the internet. At that time he decided to open an internet company in China. That was the beginning of the Alibaba.

What is Alibaba Company
What is Alibaba Company cr. Alibabagroup

Alibaba was founded in 1999  Jack Ma, who got  $80,000 from 80 investors to start an online marketplace for Chinese companies.

After a trip to the US, Ma saw a potential for an internet search engine partner. he chooses Yahoo! Inc to be a partner with.

Yahoo paid $1 billion for a 40 percent stake in Alibaba in 2005. Alibaba’s Taobao Marketplace, which links individual buyers and sellers, and nd Tmall.com, wh, which connects retailers and consumers in China. The company earns money from 3 channels which are commissions on sales, through fees for memberships, advertising, and other services.

All companies in Alibaba group
All companies in Alibaba group cr. Examinechina.com

Yahoo paid $1 billion for a 40 percent stake in Alibaba in 2005. Alibaba’s Taobao Marketplace, which links individual buyers and sellers, and  Tmall.com,  which connects retailers and consumers in China. The company earns money from 3 channels which are commissions on sales, through fees for memberships, advertising, and other services.

Annual revenue of Alibaba group from 2010 - 2018 ( in million RMB )
Annual revenue of Alibaba group from 2010 – 2018 ( in million RMB ) cr.Statista

When one of their direct competitor, eBay,  made a foray into China in 2003, Alibaba countered by discounted merchants’ fees on Taobao. Finally, eBay closed its unprofitable China Web unit two years later.

Amazon vs Alibaba
Amazon is the main competitor of Alibaba cr.61-bit

The main Alibaba’s competitor can’t be anyone except Amazon which is the world’s leading online retailer. So let compare these two brand with their SWOT analysis.

Starting with Alibaba’s SWOT analysis

Screen Shot 2561-12-11 at 11.56.34 PM.png

Amazon’s SWOT analysis

Screen Shot 2561-12-12 at 12.05.34 AM.png

Jack Ma's quote about business
Jack Ma’s quote about business cr. Callingdreams

In my opinion, Because of Ma’s personality and tenacious attitude towards his life journey, Ma is probably one of the most enlightened entrepreneurs who thought beyond the tangible gains of his business imperatives. No matter how difficult problems is, He never gave up and I think that made Alibaba successful.

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