Jack got his name not from his parents but from a tourist turned pen friend as he found his real name too hard to pronounce. Jack would give tours around the city for free to have a conversation in English in order to improve his grasp of the language.
Jack failed the university entrance exam three times and later became a lecturer in English.
Jack applied for 30 different jobs and got rejected from each of them including from KFC where twenty-four people applied for the job and only Jack got rejected rest 23 got the job. He encountered a computer for the first time at the age of 33. During his first encounter with the Internet, he searched the word “beer”. Although he found information related to beer from many countries, he was surprised to find none from China his own country.
In April of 1995 jack along with his wife and friend went around and borrowed 20000 US $ and started their first company dedicated to creating websites for the companies. His company “Chinese yellow pages” made 800000 US $ in three years.
He went on creating websites for companies with the help of his friend in the US.
His next job was as a head of an information technology company established by the china international Electronic Commerce Centre, a department of the ministry of foreign trade and economics.
In 1999 Jack quit his job and founded Alibaba, he met with more obstacles. The brand didn’t turn a profit for the first three years. In 2001, Jack tried raising 2-5 million of venture capital from the US and got rejected, a few years later Alibaba got the biggest IPO in the history of $25 billion. Jack created 40 million jobs in china directly and indirectly. Jack Ma became the first mainland Chinese entrepreneur to appear on the cover of Forbes and as I am writing this story, he is the richest man in China and 18th richest person in the world.