Jack Ma built one of the world’s biggest internet companies without learning how to code. The lead founder and executive chairman of Alibaba taught himself English by offering tours to foreign visitors of his hometown, Hangzhou, in eastern China. That’s where, in 1999, Ma launched Alibaba, which took in nearly $23 billion last year. Now Ma is hoping to expand his U.S. business, especially by encouraging more American companies to sell their goods on Alibaba’s platforms.
I STARTED MY FIRST INTERNET company in 1995, after I visited Seattle. China was not connected to the internet, and nobody believed there was this network. So it was difficult to even hire people. The first three people were me, my wife, and a guy who was a university lecturer with me, who had a computer background. China was starting to think about exporting, but small businesses couldn’t go to international trade shows. So our business model was to make homepages for Chinese companies, so they could promote their products and be found by international customers.
Nobody wanted to try it. But I had a friend, Maggie Zhou, who later became my secretary and now is our ambassador to Australia. She worked for a hotel called the Wanghu [Lakeview], the first four-star hotel in Hangzhou. I told her manager that I could make the hotel a free homepage, “and if there are any people who come to your hotel through that homepage, you can pay me.” He agreed. And nothing happened for three months.
This story is from the July/August 2017 edition of Inc..
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July/August 2017 edition of Inc..
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
ONLY THE STRONG SURVIVE FEMALE FOUNERS 250
SUCCESS often breeds success-but triumphs also arise out of necessity. Consider that Airbnb, Uber, and Rent the Runway started during the Great Recession. In many ways, the past year was defined by similar tumult. While the U.S. never technically entered a recession, the retrenchment in investment and ad spending paired with the psychological-if not direct-toll of tech layoffs yielded tough times indeed. But female founders are nothing if not resilient, and their achievements defied the conditions they faced, giving us cause to expand our list to 250 of them. They're not ranked, but they are organized around themes. In the pages that follow, you'll find snapshots of courage from women who've overcome trials-such as keeping the internet running in war zones, coping with the collapse of Silicon Valley Bank, or facing personal crises. You'll also learn how this year's top female founders grew their collective 2023 revenue to more than $8.86 billion, raised $6.2 billion in funding to date, and kept it together not just to survive, but to thrive.
Steve Young Shares Lessons From the Private Equity Playbook With a First-Time Founder
The athlete-turned-investor helps Tessa Barton prepare to scale her bootstrapped photo-editing startup, Tezza.
AI in HR Tech: A New Era in Human Resources Technology
The next generation of HR software is here, powered by artificial intelligence (AI). Now, your business can harness the transformative power of AI in HR tech.
Get Curious About the World Around You
Curiosity isn't a luxury of philosophers. It's a business and leadership essential.
Family Office
Grace Na learned the ins and outs of the denim industry from her in-laws. Now, they're two of her top team members for her own brand, Pistola.
Beauty Filter
Countless companies have elevated everyday items to iconic: Apple upgraded the nerdy MP3 player, Nest turned thermostats into real estate selling points, and Aesop made hand soap a status symbol.
5 Team Player
How Stephen Curry, the NBA’s greatest shooter ever, assembled an all-star business team that wins on social mission as much as money.
The Cult of the Entrepreneur and How to Avoid It
Imperious, infallible, and fawned over by employees and customers: Don't fall for it. You can succeed without being an asshole.
Forget the Youthful Entrepreneur Stereotype
I've UNDERTAKEN MANY businesses in my life. In college, I sold calf-nursing bottles full of booze at football games.
A Brewmaster's Balancing Act
What I've learned from over 40 years of searching for work-life balance.