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Who was the owner of the Alibaba cave?

Jack Ma, actual name Ma Yun, was the founder and CEO of Alibaba Group, which included several of China's most prominent websites, including Alibaba.com, a B2B marketplace, and Taobao.com, a retail site (not accessible in India). He's the one who turned Alibaba's dream into a reality. He is a role model for those who are new to the internet and want to make it huge.

Let's have a peek at his background:

Jack Ma was born in the United States. Ma Yun was born in Hangzhou, China's south-eastern province, on October 15, 1964. He has a younger sister and an elder brother. He and his siblings were up in a communist China that was becoming increasingly isolated from the West, and his family was poor when they were young.

Ma developed an interest in English as a child and worked as a guide for foreign tourists in Hangzhou during his adolescence. Ma failed the Hangzhou Teachers College entrance exam twice. (Mathematics was his weak spot.) In 1984, he was admitted for the third time, and he earned a bachelor's degree in English in 1988. He taught English at the Hangzhou Institute of Electronics and Engineering from 1988 until 1993. (now Hangzhou Dianzi University). His first company, the Haibo Translation Agency, was established in 1994 to provide English translation and interpretation services.

When did the cave excavations start?

Alibaba.com was created by Jack Ma and 17 of his friends and students in his Hangzhou residence on April 4, 1999, with an initial capital of $60,000. Alibaba has received a $25 million investment from Goldman Sachs and SoftBank by October.

The plan was straightforward and effective. Alibaba.com will smooth the wrinkles in the disorderly domestic e-commerce business and provide a well-ironed e-commerce platform for SMEs to assist them export Chinese goods.

By 2002, Alibaba.com had not only made a profit, but had also broken even. To make the e-commerce system even easier, Alibaba established Taobao Marketplace, Alipay, Alimama.com, and Lynx.Alibaba Group Holding Limited is a massive Chinese multinational company that spans the areas of e-commerce, retail, internet, and technology. It is China's biggest and most adored tech powerhouse, where merchants continue to offer everything to the country's expanding number of online customers.

Alibaba-affiliated Ant Financial has acquired digital wallet Alipay.

Alipay, China's most popular digital-payment service, is one of the few positive digital tools that residents may use for their convenience at a time when China's evolving algorithmic monitoring system is beginning to raise concerns about a dystopian future for its citizens.

Alibaba went on to raise $25 billion on Wall Street in the world's largest ever IPO after going public in 2014 and aggressively invested in  video streaming, online food delivery, dock less bike-sharing and ride-hailing start-ups in China and beyond.

As previously said, the company today powers some of the world's most successful B2B (Alibaba.com), C2C (Taobao), and B2C (Tmall) marketplaces. Alibaba would have prospered as one of the world's most admired and envied corporations even if Fortune had not recognised it. Its shopping search engines and cloud computing services are becoming more polished, and its variety of enterprises over 200 countries and territories is diversified.

Alibaba had the ninth greatest worldwide brand value in 2018, and its online profits in 2015 eclipsed all US retailing giants combined, including Walmart, Amazon, and eBay. To say Alibaba transformed internet-based and AI-powered businesses in China is an understatement, but the storey of a guy named Jack Ma is perhaps more essential. 

Stepping down:

Jack Ma, the founder of Alibaba, stood down as chairman in September 2019, 20 years after the firm was created. He turned over the reins to the company's CEO, Daniel Zhang, and stated at the time that he would remain on the board of directors until the 2020 annual general shareholders meeting.

Where is Jack Ma now?

Because Chinese billionaire Jack Ma hasn't been seen in public in nearly two months, speculation is widespread that he has gone'missing.' According to rumours, the Chinese government was looking into the founder of Chinese e-commerce giant Alibaba Group after the country's market watchdog launched an investigation into alleged anti-competitive actions by Alibaba last week.

Ma's disappearance gained traction after he failed to appear on the final episode of his talent programme, 'Africa's Business Heroes,' which he produced. He was reportedly replaced as Ma by another Alibaba employee, and his picture as a judge was also removed from the website.

According to the Financial Times, Ma was unable to participate on the judging panel "due to a scheduling conflict," according to an Alibaba representative.Ma's disappearance has sparked speculation at a time when his group's businesses have being scrutinised by the Chinese government. China has reportedly drawn out a'rectification plan' for Jack Ma's fintech company Ant Group, in addition to an antitrust inquiry into Alibaba.

In November, Chinese officials suspended Ant Group, which was poised to go public in the world's largest IPO in 2020.

The People's Bank of China, the country's central bank, "summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to'rectify' its regulatory infractions," according to a storey in TechCrunch.

Ant Group should return to its roots in payments and increase transaction transparency, according to the plan.

"It must obtain the necessary licenses for its credit businesses and protect user data privacy and establish a financial holding company and ensure it holds sufficient capital."

"It must secure the relevant licences for its credit companies, preserve user data privacy, and form a financial holding company with sufficient capital," says the report.

Ant group must also "revamp its credit, insurance, wealth management, and other financial activities in accordance with the legislation, and step-up compliance for its securities business," according to the bank.

Ant claims to have set up an internal "rectification workforce" to address all regulatory needs.

In addition, the State Administration for Market Regulation has begun a probe into ecommerce behemoth Alibaba's alleged anti-competitive actions, as Beijing tightens its grip on a booming Internet.

The State Administration for Market Regulation announced at the time that it is investigating Alibaba for "picking one from a list of candidates." Merchants are required to sell exclusively on Alibaba's e-commerce platforms, bypassing competitors such as JD.com, as part of this policy.

Alibaba Group said in a statement that it has received information from the State Administration for Market Regulation and that it will fully comply with regulators while maintaining its "regular business activities." Wherever Jack Ma is, I hope he is doing well.

Jack ma is the true living example of grabbing the opportunity. Jack ma is the inspiring  story of Rags to Rich.