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

Bamz Ola
Read Time:1 Minute, 28 Second

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.

Next Post

List of the Most Generous Billionaires in the World

Contents1 Bill Gates2 Warren Buffett3 Azim Premji Being a successful person and living in wealth is certainly wanted by everyone. A luxurious life for most people is a happy thing. Despite having abundant wealth, the milarders certainly do not forget the rights for those who lack. World billionaires often donate […]