English | دری

China’s richest man was rejected from 30 jobs

in Featured Articles

China’s richest man was rejected from 30 jobs

China’s richest man is Jack Ma, founder and executive chairman of Alibaba Group.

Alibaba Group is a Chinese e-commerce company that provided consumer-to-consumer, business-to-business and business-consumer sales services via web portals.

It was founded in 1998 by Jack Ma who connected Chinese manufactures with overseas through his business-to-business portal.

The Group’s websites accounted for over 60% of the parcels delivered in China by March 2013 and 80% of the nation’s online sales by September 2014.

Ma is worth an estimate USD 29.7 billion. Before becoming the richest person in China, Ma was rejected from 30 jobs, including a job in KFC.

He also failed a college entrance exam three times.

When he first started Alibaba portal, he was faced with many obstacles. His major challenge was lack of a proper payment procedure, and banks were not willing to work with him.

He developed his own payment program called Alipay.

At first, many people called his idea of the program idiot, but today 800 million people Alipay.

Alipay accounts for roughly half of all online payment transactions within China.


Tags assigned to this article:
Alibaba groupchina's richest manJack Ma

Related Articles

A Lesson from Google: Why Innovation is the Key to Your Company’s Future

  By Daniel Burrus -I’ve always said that innovation is a key driver of business success. We saw this in action

Afghanistan participates in the Jessup International Law Moot Court Competition

The United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs funded the 2014-15 Afghanistan National Rounds

Fixing Development Aid in Afghanistan

Written by: Abid Amiri Washington, DC – Tuesday, April 10, 2012   Recently in Washington there is a lot of

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.