An English teacher failed in the ‘Concours’ (高考’科举’) entrance exams to top universities, an IT illiterate, much less Internet technologies, Jack Ma (马云) becomes a legend in China and the world in e-Commerce.
Alibaba is the name of thieves in Aladdin story. While still as a teacher in HanZhou (杭州) City, Jack Ma was moon-lighting as a chinese company’s debt collector to the USA. In his first trip outside China , he was shot by the USA mafia hired by the debtor company there. Fortunately the bullet did not kill him, he woke up finally from comma. That year e-Commerce was just newly born in the USA, he smelled first-hand the opportunity to help small-to-medium Chinese companies selling products & services to the world.
A Chinese proverb, “大难不死, 必有后福” (After a big misfortune if one does not die, he shall receive a bigger blessing). With 8 closed friends he started Alibaba.com from his bedroom. Since he was almost killed by a mafia thief, he named his start-up “Alibaba” like Aladdin found the big treasure from the Alibaba. Jack Ma is now the richest man in China, after Alibaba.com IPO in New York Stock Exchange last year.
This speech was given in Hanover in the presence of the German Chancellor Angela Merkel.
1. D-economy = Data economy
2. The next 30 year Internet Revolution is C-2-B : Consumers to Business.
Alibaba has 3 big businesses:
1. e-Commerce B2B portal
2. TaoBao (淘宝) B2C (like Amazon.com)
3. eBanking (like PayPal)