Jack Ma: creator of Alibaba and architect of Chinese e-commerce The founder of Alibaba Group, which owns the trading platform AliExpress, is Jack Ma (real name — Ma Yun). His story is one of the most vivid examples of rising from a modest English teacher to one of the most influential entrepreneurs and philanthropists in the world. Born on September 10, 1964, in Hangzhou, China, Ma Yun faced difficulties from a young age — he failed the entrance exams for university twice and was rejected when trying to get the simplest job, including at KFC. Birth of the idea and creation of Alibaba The idea of creating Alibaba was born during Jack Ma's trip to the United States in 1995, where he first encountered the internet. Impressed by its potential, but unable to find any information about China on the network, he decided to create an online catalog for Chinese companies. His first project was China Pages, which can be considered a precursor to his future success. However, the real breakthrough came on April 4, 1999, when Ma Yun, together with 17 companions gathered in his apartment in Hangzhou, founded the company Alibaba.com. The initial mission of the platform was to connect Chinese small and medium-sized businesses with buyers worldwide (the B2B — business-to-business model). The name «Alibaba» was chosen not by chance — it is recognizable in many cultures and associated with treasures that can be found with the magic incantation «Open Sesame!». Evolution of the ecosystem: from Taobao to AliExpress The success of Alibaba.com allowed Jack Ma to scale his business. In 2003, the platform Taobao was launched, aimed at the domestic Chinese market (the C2C — consumer-to-consumer model), which was able to compete with the then dominant eBay on the market. The key decision that allowed Taobao to win was the refusal to charge transaction fees and the creation of its own payment system Alipay to ensure trust between buyers and sellers. In 2010, AliExpress was born — the internation ... Read more