Jack Ma Time Travel Raises Alibaba with US $ 60,000 in Capital

Bamz Ola
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Founder of e-commerce giant Alibaba Group Holdings, Jack Ma plans to retire from the company that has raised his name. After retiring, the richest person in China has a focus on spending time on education and philanthropy. Currently, Jack Ma has a wealth of US $ 40 billion.

For two decades, Jack Ma has built Alibaba’s business to become an e-commerce giant in the world. For those who do not know the process that Jack Ma has built Alibaba to be like today, the following is the time of year.

– In 1999 Jack Ma founded Alibaba with 17 other people in the Hangzhou region, China with a capital of US $ 60,000.

– In 2000 Alibaba Group raised funds of up to USD 20 million from investors led by Softbank Group from Japan.

– In 2003, Jack Ma created Taobao, a site like eBay where consumers can trade goods with each other.

– In 2004 Alibaba created Alipay, an online payment system that is currently growing to be the largest in China.

– In 2005 Alibaba took over Yahoo China operations.

– In 2008 Jack Ma built Taobao Mall or Tmall which was intended for traders who wanted to sell goods to customers.

– In 2010 the Alibaba Partnership was established to ensure management control of the company.

– In 2013 Jack Ma resigned as CEO of Alibaba, but still as Executive Chair of Alibaba.

– In 2014 Alibaba conducted the largest initial public offering (IPO) in the world and was able to generate funds of up to US $ 25 billion when listing on US exchanges.

– In 2015 CEO Alibaba currently Daniel Zhang took over the helm in the company on May 10, 2015.

– In 2018 Jack Ma revealed that he planned to retire and shifted his focus to education and diligence.

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