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Jack Ma : biography

October 15, 1964 -

Jack Ma (born Ma Yun, ; born September 10, 1964)Shiying (2009), p. 1 is a Chinese internet entrepreneur. He owns and is at the helm of two of the world's most popular sites in Mainland China, Taobao and Alibaba. He is the first mainland Chinese entrepreneur to appear on the cover of Forbes Magazine and ranks as one of the world's billionaires.

Notes

Career

In 1995, Ma founded China Yellowpages, widely believed to be China’s first Internet-based company. From 1998 to 1999, Ma headed an information technology company established by the China International Electronic Commerce Center, a department of Ministry of Foreign Trade and Economic Cooperation. He founded Alibaba.com in 1999, a China-based business-to-business marketplace site which currently serves more than 79 million members from more than 240 countries and territories. Ma now serves as chairman and CEO of Alibaba Group, which is a holding company with six major subsidiaries – Alibaba.com, Taobao Marketplace, Tmall, eTao, Alibaba Cloud Computing and Yahoo! China.

In November 2012, Alibaba online transaction volume exceeded one trillion yuan, Ma thus labeled "trillion Hou" in the title.

January 15, 2013, Jack Ma issued an open letter to employees stating his intention to retire from his post as CEO of Alibaba Group from May 10, 2013.

Accomplishments

In 2001, Ma was selected by the World Economic Forum as a “Young Global Leader”.

In 2004, he was chosen by China Central Television and its viewers as one of the “Top 10 Business Leaders of the Year”.

In 2005, Ma was named one of the “25 Most Powerful Businesspeople in Asia” by Fortune. He was selected by Businessweek as a “Businessperson of the Year”“”. Bloomberg Businessweek. January 2, 2008. in 2007 [3] and one of the 30 “World’s Best CEOs” by Barron’s in 2008.“”. Barron’s. March 24, 2008.

In May 2009, Ma was honored by Time magazine with inclusion into the Time 100 list of the world’s 100 most influential people. In reporting Mr. Ma’s accomplishments, Adi Ignatius, former Time senior editor and editor-in-chief of the Harvard Business Review, said, “Meeting Jack Ma, you might be forgiven for thinking he's still an English teacher. The Chinese Internet entrepreneur is soft-spoken and elflike — and he speaks really good English. But as founder and CEO of Alibaba.com, Ma, 44, runs one of the world's biggest B2B online marketplaces, an eBay for companies doing international trade. Alibaba and Ma's consumer-auction website, Taobao.com, did so well that in 2006, eBay shut down its own site in China.” He was also chosen as one of "China's Most Powerful People" by BusinessWeek, and one of the “Top 10 Most Respected Entrepreneurs in China” by Forbes China in 2009. Ma received the “2009 CCTV Economic Person of the Year: Business Leaders of the Decade Award”.

In 2010, Ma was selected by Forbes Asia as one of “Asia’s Heroes of Philanthropy” for his contribution to disaster relief and poverty.

In 2011 it was announced that one of his companies had gained control of Alipay, formerly a subsidiary of Alibaba Group, so as to “comply with Chinese law governing payment companies in order to secure a license to continue operating Alipay.http://news.alibaba.com/article/detail/alibaba/100474800-1-alibaba-group-clarification-respect-alipay.html Numerous analysts reported that Ma sold Alipay to himself below market value without notifying the board of Alibaba Group or the other major owners Yahoo and Softbank, while Ma stated that Alibaba Group's board of directors were aware of the transaction. The ownership dispute was resolved by Alibaba Group, Yahoo! and Softbank in July 2011.

Among Ma’s accomplishments:

  • He was the first major world business leader to predict the economic downturn in a memo to staff in July 2008, which was subsequently made public
  • He along with Alibaba.com’s management team took decisive actions to steer his company through a crash in China exports such as reducing prices for export supplier customers; acting as a middleman to connect small and medium sized companies with lenders
  • He led the creation of employment opportunities worldwide on the Alibaba.com and Taobao platforms, as well as forged ahead in 2009 with the hiring of 5,000 new employees globally
  • He has built a reputation for having world-class vision in terms of how Alibaba Group businesses are operated, including an adherence to a vision, values and mission-based culture as well as the requirement that each of Alibaba Group’s business units must incorporate corporate social responsibility into their business models.
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