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Alibaba Founder Jack Ma Retired on his 55th Birthday

Alibaba Founder Jack Ma Retired on his 55th Birthday

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Alibaba Founder Jack Ma Retired on his 55th Birthday

The co-founder and CEO of China’s largest online retailer Alibaba, Jack Ma, has stepped down from his position as the company’s executive chairman on Tuesday. He has been an inspiration to millions and was one of the most successful entrepreneurs of the world. Last year, Jack Ma announced in an open letter that he would […]

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The co-founder and CEO of China’s largest online retailer Alibaba, Jack Ma, has stepped down from his position as the company’s executive chairman on Tuesday. He has been an inspiration to millions and was one of the most successful entrepreneurs of the world. Last year, Jack Ma announced in an open letter that he would retire on his 55th birthday, which falls on September 10 this year, and the company CEO Daniel Zhang will take over as the chairman of the board.

Ma’s journey from English teacher to tech tycoon is one of modern China’s best-known success stories. His perseverance and grit is truly inspiring. In 1999, Ma co-founded a business marketplace web page out of his apartment in his hometown,Hangzhou, capital city of east China’s Zhejiang Province.

Now Alibaba has grown to be a global empire spanning online retail, cloud computing, digital banking, even entertainment.Success didn’t come easy for Ma. He failed his college entrance exams twice, got turned down by Harvard University 10 times, and was rejected for 30 jobs after graduating. Even so, he never gave up. He kept on trying for the best till he succeeded.

The “no” was kept coming when he sought venture capital to back his internet enterprises, but Forrest Gump, his favorite movie character, inspired him to carry on.

The investors who said “no”, may now be looking back with regret, as Alibaba is a multi-billion dollar behemoth, boasting more than 720 million active users each month.Alibaba is often credited with helping to transform the Chinese economy by giving choice to consumers in rural areas, unlocking domestic buying power, and spurring the growth of countless small businesses.

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