The story behind the e-commerce giant Alibaba is one that validates the power of a dream when driven on the wheels of conviction and persistence. Jack Ma, a former school teacher from Hangzhou China in the 1990s envisioned that the internet will someday be a converging point for global trade and commerce.
“You should learn from your competitor but never copy. Copy and you die.” – Jack Ma
From a very humble beginning with no techy knowledge of the internet, no business degree from Harvard or Stanford, no bank loans and so on. Jack Ma together with 18 of his friends and family in 1999 began a journey that has now transformed into a global e-commerce empire. The Alibaba Group runs the following businesses;
Alibaba.com – Its first business connecting the small Chinese wholesalers with global buyers
1688.com – Connects Chinese manufacturers with Chinese small businesses
Aliexpress – Similar to 1688.com with a focus on international buyers purchasing small quantities of goods
Tmall.com – Business-to-consumer platform similar to Amazon.com
Alimama – An online marketing platform
Aliyun – Cloud computing arm
Taobao Marketplace – Online business similar to eBay
Alipay – An affiliate with Ant Financial Services Group
Today, Alibaba group with a reputation of being the largest IPO in history since it went public dominates its Chinese counterparts while competing internationally in the same market with the likes of Amazon, Ebay, Walmart, Google, Paypal and Groupon.
Were you inspired by this post? Please, let us know in the comments below.
Photo Credit: Google