How Big is Alibaba? - From School Teacher to BillionaireMay 01, 2020
Skillshare brings you this video, one of the best ways to learn a new skill online. Hello, welcome to another ColdFusion video, when I say the word Alibaba, you probably think of a multi-billion dollar company, a company started by a successful individual, surprisingly this. It couldn't be further from the truth. In 1999, a 35-year-old former English
teacherfounded his own company. This man had failed time and time again in his life, but he always found a way to persevere. His name was Jack Ma, the company he founded. would revolutionize the e-commerce market Alibaba would become one of the most valuable companies in the world and would make Jack Ma worth more than thirty-five billion dollars.
The company would also create ten additional
billionaires and grow to over a hundred thousand employees, but Jack Mars getting to the top wasn't easy or simple. In this video we will see how Alibaba grew to become the e-commerce Goliath we know today and we will answer the question of how big Alibaba is when you think of company founders you think of geniuses that the young Bill Gates founded dropped out of Harvard and founded Microsoft At age 21, Mark Zuckerberg followed a similar path by dropping out of Harvard and founding Facebook at age 20. Elon Musk sold his first company at age 28 for more than $300 million.
Jack Ma, on the other hand, applied to Harvard ten times and was rejected each time. After graduating from university he applied for more than 30 jobs without getting a single one. He later said in a famous interview that he applied for a job at KFC out of 24 applicants, 23 were accepted and the future founder of Alibaba was the only one who missed out. After this, he ended up taking a job teaching English for $12 a month, but he wasn't happy here, his entrepreneurial spirit didn't show. Stuck in a classroom for a long time in 1995, a student showed him the Internet if anything interesting happened when he searched for the word BR.
He only found beers from all over the world but nothing from China. He quickly realized that China was disconnected from the Internet and therefore. the rest of the world this inspired him to try to connect China with this wonderful new technology, so he started an Internet-based translation company; However, this failed, but Jack Mars' interest in the Internet did not disappear soon after he and a friend started the China pages. a yellow pages type website for Chinese companies connecting them to international interests unfortunately this would also be a failure, but for every failure and rejection that Jack Ma faced in his life, he seemed to have persevered with an unbreakable spirit seven years later in 1999 Jack Ma stood in front of 17 of her friends and students in the living room of her apartment.
He was talking about the Internet connecting buyers and sellers before most of us had an Internet connection. He was talking about how the Chinese mentality would beat Silicon Valley. Giants in a Chinese market, this inspiring speech was the first meeting of the company and after this Alibaba was born. For six months after the inspiring speech of its leader, the team worked hard on the development of its product, an e-commerce platform of business to business, without advertising, without public announcements. Jack Ma wanted the team to work without distractions after six months, they had raised $25 million in funding from Goldman Sachs and Softbank and the business was at Alibaba, he was aiming for an IPO in a couple of years, but soon the company would face an external problem.
From their control, the fall of Internet stocks had cast a shadow of doubt on many startups in the Internet space, the Internet was simply a fad, investors began withdrawing their money and many companies starved. Alibaba, however, with Jack Meyer at the helm survived. almost exclusively feeding off the sheer determination of its founders countless times Jack Ma told his team they would struggle, he is quoted as saying today is hard, tomorrow is worse, the day after it will be sunny, the team persevered through the accident and, With the basics, he managed to get ahead. on the other side, but instead of enjoying the sun, Jack decided the company needed to try harder.
Tell us something we've never heard about the Internet before we get tired of hearing what it could do. Tell us something we haven't heard before. No, surely wherever you go on the street, like in Shanghai, Hong Kong and Beijing, all the young people are talking about the Internet and thinking about establishing businesses on the Internet, so the Internet fever at this time in nature is trying to catch up to the US hat box no no you want to be funny well I hope it can be a natural if I can be and can you see why people think that's a lot more attractive?
You don't make money, you have extraordinary claims and you still earn None of that, yes, but what's the point, while this is happening, eBay had bought a considerable stake in each network, which at that time was the leader in Chinese e-commerce and, Therefore, Alibaba competitor Jack Ma declared war on the Silicon Valley giant, capturing media attention with a David versus Goliath tone. eBay would soon fully purchase each network for US$150 million and began making changes to the website to integrate it into the eBay ecosystem. This was a fatal mistake for eBay. Not understanding the Chinese market, they removed features from each network that Western executives thought were useless and too cute, but little did they know that Chinese users valued these features from the beginning.
Barbara, on the other hand, focused on making the experience uniquely Chinese, they created advance payments. its version of PayPal to accompany its new Taobao marketplace Taobao will connect users directly with manufacturers within rural China Alibaba freed up Taobao for three years to put pressure on eBay which, on the other hand, sought to generate returns for its investors as quickly as possible. Alibaba's tactic may have proven smart in the years since. Alibaba's market share grew while eBay was rebuffed. Jack Ma told his employees that eBay is a shark in the ocean, we are a crocodile in the Yangtze River, if we fight in the ocean it will lose, but if we fight in the river we will win, in quotes, the stage was perhaps already set for that a Chinese company was strong in the field of e-commerce.
China, with its population of over a billion, was trying to grow its economy to its current level. Former glory Manufacturing pockets across the country, called Taobao towns, became the heart and soul of the Chinese economy. The low cost of labor made China the world leader in manufacturing, although this was before the time of Alibaba. Jack Ma and company certainly benefited from China's rise in manufacturing the stage was set simply for Alibaba to introduce China to the world via the Internet. eBay would eventually cease Chinese operations and succumb realizing they could no longer fight Alibaba. China was the crocodile's territory, so the crocodile had won, but the question.
You have to wonder how big Alibaba is after the eBay war. Alibaba made its IPO by revisiting the dreams it had before the Internet crash when the company finally hit the New York Stock Exchange its IPO raised 25 billion US dollars. This is the largest IPO in history. At the time of this episode, how big is Alibaba? Its market capitalization is 440 annually in US dollars, making it the seventh largest publicly traded company in the world, it has more than 100,000 employees and has a list of subsidiaries worthy of its size. Electronic commerce is the main core of business.
Alibaba against a bow as mentioned above, but also Aliexpress and Alibaba calm the The company has diversified into supermarkets that deliver food to consumers and has partnered with hotel chains to enter and dominate the travel consumer market. Fifth, it partially acquired competitors like Lazada, the Singapore e-commerce company, not to mention its acquisition of Yahoo China in 2009. They launched Ali Baba Cloud, a cloud computing platform focused on the e-commerce market. . They also acquired China's largest web hosting site in China and integrated it into Alibaba's cloud service. Alibaba Cloud also works in the hardware space developing cutting-edge processors as well as AI Accelerators that are used to accelerate the hardware performance of AI programs.
In 2019, the company introduced its own AI chip for cloud computing and It is said to complete some machine learning tasks that traditionally took an hour in just five minutes, most processors will be available for rent through Alibaba's cloud, and cloud computing on its own is an interesting space for for the company to branch out as Internet speeds increase. Personal devices that have less emphasis on hardware and more on renting hardware processes over the Internet not only this but also the business. It also dominates the financial technology sector, the subsidiary and financial company provides financial services to small and micro businesses and the financial company is actually the most valuable unicorn in the world with a value of 150 billion.
A unicorn is a company that reaches a valuation of more than $1 billion while still being privately held, the company mentioned above is a subsidiary and financier and facilitates mobile payments to one billion people. Alibaba has also ventured into entertainment by launching a division that has multiple branches and content creation, ticketing and live entertainment, to name a few, in 2014. The company acquired a majority stake in China Vision Media Group for more than one hundred million dollars, after which it was renamed Alibaba Pictures Group. After this, they released early music which, in partnership with Ten Cent Music, streams music from Sony and Universal, among other major labels.
This is not to mention other areas like Ally Health and Ally Sports, which are big players in their own right. In 2015, Alibaba acquired the South China Morning Post, although a century-old media company based in Hong Kong, along with all of these. Alibaba companies currently invests in startups across China and acquires startups regularly in 2019. They also announced commitments to help technology drive philanthropic and humanitarian challenges in September 2019. Jack Ma would step down as CEO. Some speculated that the Chinese government pressured him, but he denies this. He says that now his goal is to help others. Furthermore, in 2019 he started some initiatives.
One initiative gives ten African entrepreneurs $1 million each for new and promising ideas each year. The other initiative is a fund with more than 14 million dollars to help develop education in In Tibet, many years ago, people said Jack not Bill Gates. I said, well, I can drink a beer as good as Bill Gates, but there's one thing I can do better than him. I can retire early, right? I can do something that is in the field of education. I can do something unique and different in my mind from JAC mais, so I would learn from Bill Gates and Warren Buffett from many great journalists in the world, but I want to do something in my own way.
Alibaba's story as Jack Ma came from humble beginnings. The company is undoubtedly full of brilliant people, but its culture of sheer determination to succeed instilled by its leader is perhaps the biggest reason for its success. No matter how humble and serious the company has been, it cannot be denied that the Alibaba we see today is a Goliath, the company's acquisitions and its positioning for the future would be terrifying for its competitors, perhaps if the company were American it would They would face some antitrust lawsuits, but I guess in China the rules are different, since the Chinese would have Alibaba's fingers in so many pots, it's difficult. see a future without them, the only small company that had its humble beginnings in an apartment, the brainchild of an English professor who had failed again and again in his life but still believed he could take on the giants of Silicon Valley and, Ultimately, he did, making $35 billion in the process, it's a pretty amazing story that kind of goes to show, no matter what disappointments the pastures brought you, if you have the right vision and work hard, you can achieve it if you're looking begin. something in this world, then learning a new skill is usually the best place to start.
Skillshare has over 25,000 classes on everything from business and entrepreneurship to web development and video editing, for example. I found this marketing course by Gary Vaynerchuk, Social Media Strategy in the Noisy World quite interesting, as well as this Storytelling for Leaders class by Keith Yamashita, lessons like this are important if you want to stand out in a world that is much noisier than the one where Jack Ma jumped into thefame today. Skillshare is giving away a two month unlimited access trial for ColdFusion subscribers who click the link in the description below and after this period it only costs about ten dollars a month, so that concludes this video.
I hope you enjoyed. This has been gogo and you've been watching ColdFusion Feel. You can subscribe if you're new here and I'll see you soon for the next video. Greetings guys, have a good time. Oh.
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