Online retail giant Alibaba, owned by Jack Ma swell, has been valued at £140billion, more than Walt Disney and Coca-Cola, Ebay, Amazon, after the biggest stock market flotation in US history.
Ma Swell, the 50-year-old founder was born in the Chinese city of Hangzhou, but twice failed his college entrance exam. And he later enrolled on a teacher training course before working as an English teacher on less than £10 a month.
He visited the US in 1995 realised the potential of the internet and four years later, he launched a website named alibaba, where firms buy and sell goods online.
Alibaba now accounts for more than 80% of internet retail sales in China, and handles more transactions than eBay and Amazon combined.
The successful share sale saw the fortune of founder Jack Ma swell to £11billion, confirming him as China’s richest man.
i come dey wonder say "na so dat comedian get money reach" tank Goodness i read d full gist if not i 4 go dey argue outside say our own alibaba is worth £140billion
Ff on twitter @samuelokorie7 or ping 760BE790
Posted: at 20-09-2014 01:49 PM (10 years ago) | Hero
i come dey wonder say "na so dat comedian get money reach" tank Goodness i read d full gist if not i 4 go dey argue outside say our own alibaba is worth £140billion
Ff on twitter @samuelokorie7 or ping 760BE790
Posted: at 20-09-2014 01:49 PM (10 years ago) | Hero