Many of us may be not knowing about the Alibaba, but let us tell you my friends it’s the one of the biggest global trader as it’s tag line goes like ‘ Global trade starts here ‘. Now Alibaba filed for its IPO in the US, and it is essential to take a step back and look at its journey since Jack Ma started as a tour guide and finally gave shape to the e-commerce behemoth that it is today. The story is really interesting and its an inspirational one.
A Chinese boy at an age of 12, religiously listen to ‘Voice of America’ broadcasts every day. Boy wanted to learn English but in china there were very limited options available. So what he does is, he started to talk to US people who visit china and guide them for tour for free. He failed in the entrance exam for enrolling at Hangzhou Teachers College twice. He then graduated and started to teach English at $15 per month.
That boy then became an interpreter between the Chinese and American businesses. When he visited the Seattle, he encountered first computer and internet. Boy then returned to the china and launched a service called Alibaba.com for B2B market in 1999. Now that boy is the founder of Alibaba Jack Ma.
Few interesting facts regarding Alibaba is, More than $240 billion of merchandise changed hands on Alibaba in 2013. This is more than that of Amazon and eBay combined! It tells the growth of it and what impact it will create in it’s IPO. By this Alibaba has become not only china’s largest commerce site but one of the world’s largest online commerce company. Alibaba has got estimation of $150 million and it’s the huge.
If we compare Alibaba with Amazon and eBay then Alibaba has much lesser revenue then them but in terms of profit it’s way ahead of Amazon and eBay. Lastly we liked the Jack Ma’s statement which says that ” Most companies, when they’re doing good enjoy today’s wonderful life. They don’t worry about five years later—but I worry about five years later ”
Image Credits : CNN.com