The first time: founding Haibo Translation Agency

The reason why Jack Ma wanted to start a translation agency was mainly based on three considerations:

1. At that time, many foreign trade companies in Hangzhou needed a large number of full-time or part-time foreign language translators; 2. He had too many orders in this area and was too busy to handle them; 3. There was no professional translation agency in Hangzhou at that time.

Many people only have ideas but never take action. But when Jack Ma had an idea, he took action immediately. It was 1992. Jack Ma was a young teacher at Hangzhou Institute of Electronic Industry. He was 28 years old and had worked for 4 years. His monthly salary was less than 100 yuan. But having no money was not a problem. He found a few partners to start a business together and set up the first professional translation agency in Hangzhou.

The second time: founding China Yellow Pages

China Yellow Pages is the first website in China, although it is an extremely crude website. The establishment of the website was due to Jack Ma's experience in the United States.

In early 1995, Jack Ma visited a friend's Internet company in Seattle and saw the magic of the Internet with his own eyes. He immediately realized the huge development prospects of the Internet in the future and decided to return to China to do Internet business.

At the beginning of his business, Jack Ma still had little money, and all his belongings were only 6,000 yuan. So he sold the office furniture of Haibo Translation Agency and borrowed money from relatives and friends, and finally he raised 80,000 yuan. Adding the investment of two friends, the total was only 100,000 yuan. For an Internet company, a mere 100,000 yuan is really too shabby.

The third time: founding Alibaba

Alibaba is undoubtedly a miracle in the history of China's Internet, and this miracle was created by Jack Ma and his team. But when Alibaba started its business, there was not much money, 500,000 yuan, which was scraped together by 18 people.

500,000 yuan is all their assets. However, with this 500,000 yuan, Jack Ma made the following statement: We want to build the world's largest e-commerce company and enter the top ten global website rankings!