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    Jack Ma, a Chinese business magnate, philanthropist, internet and technology entrepreneur, founded and became executive chairman of Alibaba Group a conglomerate of Internet based, technology and businesses.

    Ma started to study English at a young age and practiced English daily by conversing with English-speakers at Hangzhou international hotel, a 70 minutes bike ride from his home. He would give them tours around the city for free to improve his English for nine years. Later in his youth, Ma struggled attending college. After that, Ma attended Hangzhou Teacher's Institute (currently known as Hangzhou Normal University) and graduated in 1988 with a B.A. in English. After graduation, he became a lecturer of English and International Trade at Hangzhou Dianzi University.

    Jack Ma was one of the first few individuals who saw Internet as a business opportunity even at a time when the rest of the world didn't believe in his thoughts. In the mid 1990's Jack got to know about the existence of the internet and began seeing this new trend in technology as a great business opportunity. Ma even frequently visited the United States in 1995 to learn more about the internet. One of his friends even showed him how to connect to a website. The same year, he even raised a fund of $20000 to start his own firm with an intention of solely focusing on the internet. The purpose of the company was to create websites for their clients. Although this kind of business was relatively new, Jack managed to earn a whopping $800000 in a matter of just 3 years.

    His success in the field of internet, led to Jack's appointment as the head of a firm governed by the agency 'China International Electronic Commerce Center', in 1998. He continued working in this IT-based firm for the next one year. After stepping down from his responsibilities in 1999, Jack founded a company named 'Alibaba' along with many other friends. The intention was to create a website which is more like a one stop shop for business to business transactions. The company's business soon expanded to around 240 different nations. He also founded many firms such as "Taobao', 'Lynx' and 'Ali Mama'. "Taobao' also grabbed the attention of another famous internet shark, 'Yahoo'. The firm invested $1 Billion in Jack's venture.

Adapted from: https://www.thefamouspeople.com/profiles/ ack-ma-6221.php 

Why did Jack Ma build his own company?