Jack Ma, Founder of e-commerce giant Alibaba Group and China’s richest man, told participants at the 45th World Economic Forum Annual Meeting that his vision is to serve 2 billion consumers and to help 10 million small businesses outside China sell their products through the internet.
Ma, Founder and Executive Chairman of Alibaba Group, People’s Republic of China, said that it currently has 300 million people transacting through its web portals, about a third of them chalking up 60 million transactions daily, with 10 million small businesses, mostly within China.
“I’ve been thinking how we can make Alibaba a global platform for small businesses around the world,” he said. “My vision is, if we can help a small business in Norway sell things to Argentina, and Argentina consumers can buy things online from Switzerland, we can build up an e-WTO. WTO is great but last century. Today, the internet can help small business sell things across the oceans. I hope we can serve 2 billion consumers and help 10 million small businesses outside China.”
Ma said he would like to see Alibaba exceeding Walmart in sales in 10 years’ time. Along with his grand vision for his group, Ma also told participants that success comes with the heavy responsibility of ensuring that he and his team live up to the public trust bestowed on them. “For e-commerce, the most important thing is trust,” he said.
He added that his desire to succeed stems from his wish to be an inspiration to young people in China. “If we can be successful, 80% of young people in China can be successful,” he said, adding that they, like him, do not have the benefit of inherited wealth.
Ma also explained why early rejections in his life only strengthened his resolve to succeed. “I went to KFC; 24 people went for the interview, 23 got accepted. I was the only one rejected,” he said. Harvard University also snubbed him 10 times. “I told myself, some day I will go there to teach.”
Ma said Hollywood movies have been one of the great inspirations in his life, in particular, the character of Forrest Gump. “I love Forrest Gump,” he said. “A simple guy – [but he] never gives up.”
More than 2,500 participants are taking part at the 45th World Economic Forum Annual Meeting in Davos-Klosters, Switzerland from 21 to 24 January 2015.
6 Responses to “An Insight, An Idea with Jack Ma – Founder of E-commerce Giant Alibaba and China’s Richest Man”
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January 27th, 2015 at 9:41 pm
Jack Ma founded his company 15 years ago inspired to create a global marketplace. He got his start as a volunteer tour guide in China, learning English along the way. He was rejected from many institutions including Harvard and built his business from scratch. Starting with only 18 employees including him, Alibaba is now one of the world’s largest companies employing close to 14 million people both directly and indirectly. His company boasts a staff of more than 30,000 people with four campuses and almost half of those employees are women. Twenty-four percent of female employees are in managerial and executives roles the highest of any company. He has stated that “women are more compassionate” and he prefers working with them. Along the way they gained further support from investors such as Goldman Sachs, Fidelity, and a few others. They were able to turn profit after three years. Mr. Ma’s innovative approach to e-commerce is revolutionizing the marketplace, Alibaba has completely revolutionized the way business’ and consumers’ connect.
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January 29th, 2015 at 2:27 pm
Jack Ma the owner of Alibaba has developed a business philosophy, a value system that highly regards for and rewards his employees and executive staff. This value undergirds the point that the human capital of a organization must be properly appreciated and should never be diminished in potential and relevance to attain prosperity.
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February 19th, 2015 at 9:07 pm
There are several comments that motivated me in Jack Ma’s interview.First,he spoke about creating trust in a system that he himself didn’t know much about. Sixty million transaction are done each day on his E commerce business. There is an exchange system of goods and services via the internet.No-one knows each other yet it takes trust to carry out the exchange.In the world system people don’t trust each other. I think this is a godly principle.
Next, he said, “people say jack is crazy because he is doing something that they do not understand.” I believe that once you have an assignment it is similar to a burden and whether people believe in, it or not you should. Most important, you should execute it.
Another point is you should be able to take risk, even if it means going to prison. He did not have a license to deal with the money issues pertaining to sales but once he listened to other leaders, he got direction. He did not hesitate.
A ray of light as shone on some of the things that i have been taught in Leadership training. If Jack Ma and my mentor can achieve, so can I and any one who as an idea.
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May 5th, 2015 at 10:10 pm
Jack Ma, founder CEO of Alibaba has utilised the value for sincere partnership providing the same opportunity for people with a common goal to pursue causes that advance society with financial benefit as a secondary goal without partiality. Jack Ma is hoping for a global presence. The results are astounding. Such humilty.
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May 6th, 2015 at 10:45 pm
his vision is to serve 2 billion consumers and to help 10 million small businesses outside China sell their products through the internet.the internet can help small business sell things across the oceans. I hope we can serve 2 billion consumers and help 10 million small businesses outside China.”80% of young people in China can be successful,” he said, adding that they, like him, do not have the benefit of inherited wealth.Ma also explained why early rejections in his life only strengthened his resolve to succeed. Harvard University also snubbed him 10 times. “I told myself, some day I will go there to teach.” jack mar vision has slowly come into fruition, and as he continues to raise up younger men and women to dream, change their mentality of how they are precieved by others, his inspiration will catapult others who were overlooked, because of their ethnicity, or speech pattern. there is so much to learn from jack mar, he does not take credit for his success he gives it to his team, working cooperatively, a network to serve others a servant leader wanting to impact the world one person or business at a time. he belives in free market solutions where internet presence will take the place of brick and mortar. he is getting and giving a glimpse of where we are heading now. he wants others to join him in this adventure where the next generation will be able to pick up the torch and carry it future. jack mar bravo for following your dream, and realizing that it must be shared.
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May 18th, 2015 at 4:22 pm
Alice Donovan: Mr. Jack Ma, Founder of e-commerce giant Alibaba Group and it said that he is the richest man in China. Alibaba Group’s vision is to serve two billion consumers, and to help 10 million small businesses outside China sell their products through the internet.
Alibaba Group is not only concentrating on the local market but internationally and globally as well. The epidemic of small businesses failing before they start has become a major epidemic to Alibaba Group. They have come up with a solution to solve an economical and financial epidemic global problem in the area of the development of small businesses.
This is no small accomplishment. The Alibaba Group is a solution oriented organization that is geared towards solving the problems of small businesses throughout the world and that one man’s vision is truly a life saver for many entrepreneurs.
The Alibaba Group could have kept this vision or economical development a secret that would benefit only the Nation of China. However, they have developed an internet e-commerce software to partnership and share with the rest of the world at large. Of course, not sharing this innovation or technological device with the rest of the world would prove only to be selfish. This man is a noble individual.
After Alibaba Group discovered they had developed a cure for small businesses epidemic, they decided to embark on a global platform that would rescue other small businesses throughout the world.
In my humble opinion, Alibaba Group should be recommended by the WTO to receive The Pulitzer Prize Humanitarian Award in “Saving Small Businesses from Economical and Financial Suicide!”
It is now obvious that one of the major reasons that small businesses fail is because most is carrying too much debt and is unable to pay interest payments from loan. These over leveraged companies are unable to pay their expenses because of over excessive cost. The Alibaba Group has devised a formula to annihilate financial leverage. The financial disease that has been costing small businesses to fail has a solution and it has been given life to dead businesses by Mr. Jack Ma. This is superfantastic! There is hope for the rest of the World and Alibaba has the solution for the problem.
Finally, I just want to add that Mr. Jack Ma is a humble and honorary man that any decent person can identify with in doing internet or any other form of business with based on his life’s story. He is a man filled with integrity and has not forgotten his early rejections in his life that strengthen him to become the trusting, kind, compassion individual. His value system is impeccable, remembers where he came from and certainly has not forgotten how to pay it forward.
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