Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Business Leaders  >  Business Leaders Biography

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 
HomeAll newsMost read newsBusiness Leaders Biography 
Portrait de Jack Ma
Birthday : 10/31/1964
Place of birth : Hangzhou (Province de Zhejiang) - China
Country of residence : China

Biography of Jack Ma 
Jack Ma is the CEO of Alibaba Group, the Chinese leader in e-commerce with counts five companies specialized in online shopping as Tabao.com, the second global site behind eBay and Yahoo China, the search engine and portal bought by Yahoo in 2005.

In his younger years, Jack Ma was a tour guide; his excellent command of English and his perfect knowledge of the province of Hangzhou where he comes from allow him to be really good in this job.

Graduated from Hangzhou Teachers' Institute in 1988, Jack Ma taught for some time before creating a translation agency that knows a big success thanks to U.S. and foreign companies who move in China.

During a trip he made in the USA as an interpreter, Jack Ma discovers computers and internet. Fascinated, he ordered to a friend a website for his translation agency.

Back in China, he borrowed $ 2,000 from friends and launched the website China pages, considered as the first commercial website in the country. The site has difficulties to find its business model and stops. Jack Ma got a job at the Ministry of Foreign Trade, a position which enabled him in 1998 to meet Jerry Yang, co-founder of Yahoo.

Jack Ma really wants to invest in the web.He managed to borrow $ 60,000 for the launch of Alibaba.com in 1999. Quickly, the company is a leader in the sector of business-to-business (B2B). The credibility won lets Jack Ma to raise $ 25 million dollars, allowed by the most demanding investors like Goldman Sachs, or the Japanese Internet entrepreneur Masayoshi Son.

In March 2002, Alibaba.com counts one million users and starts to generate profits.

In 2003, Jack Ma is launching on online auction with Taobao.com, which means "the search of treasure." It quickly emerged as a serious rival to eBay. Yahoo, which closely follows the evolution of Alibaba pays $ 1 billion in 2005 to enter in it capital at 40%. In return, the company Alibaba, valued at $ 4 billion takes control of Yahoo! China.

In 2008, Alibaba.com has 23 million visitors, 65% in China. It aggregates five companies: Taobao, the largest e-commerce website CtoC, Alisoft, which provides software for companies. Alipay, the first online payment service in China and of course Yahoo China, a search engine and portal Yahoo bought in October 2005.
Copyright © 4-traders.com / Photo © Reuters

Citations
"From today onwards, in China Yahoo means a search engine and a search engine
means Yahoo."

"I think (in) search, we have a chance to win, When we took (over) Yahoo search, it was not good, and it is not good today either. We are here to make it better."


Most Read News 
05/22 JAMES HACKETT : Ford names Hackett as CEO to tackle car rivals, Silicon Valley
05/17DJROBERT IGER : Disney's Iger Isn't About To Sign Off -- WSJ
05/16 JAMIE DIMON : JPMorgan's Dimon defends Trump advisory role, deregulation
05/19 MASAYOSHI SON : Dealmakers aplenty, SoftBank's Son looks for wonks
05/17 LAKSHMI MITTAL : ArcelorMittal warns of legal action over Bosnia iron ore mine sale
05/16 CARL ICAHN : Icahn takes new 19.8 million share stake in Conduent in first quarter
05/16 WARREN BUFFETT : Buffett's Berkshire boosts American, Southwest airline bets; sheds Fox
05/18DJRUPERT MURDOCH : Former Fox News Chief Roger Ailes Dies at Age 77 -- Update
05/16 OLEG DERIPASKA : Deripaska's group bets on improving aluminium, Russian outlook
05/17 RUPERT STADLER : Audi CEO's contract to be extended to end of 2022
More news
Advertisement
Latest news about Jack Ma 
More news


Popular Business Leaders 
William Ackman Bernard Arnault Max Azria Mary Barra Jeff Bezos Lloyd Blankfein Yannick Bolloré Thomas Buess Warren Buffett Gary Cohn Michael Dell Ralph Dommermuth David Einhorn Klaus Engel Mark Fields Laurence Fink Carlos Ghosn Peter Hancock David Henry Carl Icahn Robert Iger Arnaud Lagardère Jack Ma Sergio Marchionne Marissa Mayer Leslie Moonves Oscar Munoz Rupert Murdoch Elon Musk Peter Nicholas Ferdinand Piëch Georges Plassat Hasso Plattner Wolfgang Porsche Giuseppe Recchi Wolfgang Reitzle Urs Rohner Kasper Rorsted Wilbur Ross Charles Schwab George Soros Rupert Stadler Bernard Tapie Johannes Teyssen Tidjane Thiam Axel Weber Thomas Wilson Dieter Zetsche Mark Zuckerberg
A-Z Business Leaders