JACK MA YUN (Co-Founder of Multinational Technology Conglomerate Alibaba Group)

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JACK MA YUN 

(Co-Founder of Multinational Technology Conglomerate Alibaba Group)

Chinese: Jack Ma Yun[a] 马云; pinyin: Mǎ Yún; Chinese business magnate, investor, and philanthropist (born September 10, 1964). He is a co-founder of the multinational technology conglomerate Alibaba Group. Ma is also a co-founder of the Chinese private equity firm Yunfeng Capital. Ma is the fifth wealthiest person in China (behind Zhong Shanshan, Zhang Yiming, Ma Huateng, and Robin Zeng) and the 34th wealthiest person in the world, according to the Bloomberg Billionaires Index, as of January 2023. His net worth is $34.1 billion.

Ma's autobiographical speech says that after graduating from Hangzhou Normal University in 1988,[22] he applied for 31 odd entry-level jobs and was turned down for each one. I applied for a position with KFC; They said, "You're no good," Ma told Charlie Rose in an interview. Even when KFC was in my city, I went there. 24 people applied for the position. 23 applications were accepted. I was the only man who was rejected..."[23] At the time, China was nearing the end of its first decade of economic reform under Deng Xiaoping.

Ma discovered the Internet in 1994 and founded his first business, Hangzhou Haibo Translation Agency, an online Chinese translation agency. He traveled to the United States in the beginning of 1995 on behalf of the Hangzhou municipal government with colleagues who had helped him become familiar with the Internet.[24] He found information about beer from a variety of countries, but he was surprised to find none from China. He also tried to look up information about China in general, but was again surprised to find none. As a result, he and a friend developed an "ugly" website with information about Chinese beer.[25] He launched the website at 9:40 a.m., and by 12:30 p.m., he had received emails from potential Chinese investors seeking more information about him and his website. Ma first realized that the Internet had a lot to offer at this point. Ma and his business partner, computer instructor He Yibing, opened the first China Pages office in April 1995, and Ma started their second business. On May 10, 1995, the pair enlisted the space chinapages.com in the US. China Pages made approximately 5,000,000 RMB in profit in three years, which was equivalent to USD$642,998 at the time.

 SHUBHAM KANOJIA

T.Y.BSc.(IT)

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