Yu Minhong: If I had met Jack Ma earlier, I would have been a major shareholder of Alibaba

Yu Minhong: If I had met Jack Ma earlier, I would have been a major shareholder of AlibabaOn April 11, 2016, Yu Minhong, while giving a speech at the Three Gorges University in Yichang, reminisced about the founding of Alibaba by Jack Ma in 1999, his fifth entrepreneurial venture. At the time, Jack Ma was struggling to raise the 500,000 yuan needed to establish the company, while New Oriental, led by Yu Minhong, had 50 million yuan in cash on hand

Yu Minhong: If I had met Jack Ma earlier, I would have been a major shareholder of Alibaba

On April 11, 2016, Yu Minhong, while giving a speech at the Three Gorges University in Yichang, reminisced about the founding of Alibaba by Jack Ma in 1999, his fifth entrepreneurial venture. At the time, Jack Ma was struggling to raise the 500,000 yuan needed to establish the company, while New Oriental, led by Yu Minhong, had 50 million yuan in cash on hand. With a touch of regret, Yu Minhong said, "If Jack Ma had known me then, I would have definitely been a major shareholder of Alibaba."

This statement sparked endless speculation: What kind of legend would have unfolded if Yu Minhong and Jack Ma had met earlier, joining forces as powerful entrepreneurs? Would SoftBank's Masayoshi Son have been replaced by Yu Minhong as the biggest winner from Alibaba's IPO?

Looking back at history, in 1999, Jack Ma founded Alibaba with the dream of "making it easy to do business anywhere in the world." Meanwhile, Yu Minhong's New Oriental had already established itself in the education sector. At that time, the internet industry was still in its infancy, and the future of Alibaba remained uncertain, yet it held immense potential.

If Yu Minhong had been willing to invest in Alibaba at that time, his extensive business experience and financial strength would have undoubtedly provided significant support to Jack Ma's entrepreneurial journey. And Alibaba's success would have brought substantial returns to New Oriental, perhaps even altering its future trajectory.

However, history has no "what ifs." Yu Minhong and Jack Ma missed the opportunity to collaborate and the chance for Yu Minhong to become a major shareholder of Alibaba. But this does not necessarily mean that Yu Minhong's judgment was faulty. After all, the internet industry was full of risks at the time, and investing in Alibaba also carried significant uncertainty.

Nevertheless, Yu Minhong's reflection is still thought-provoking. It reminds us that in the entrepreneurial journey, besides one's own efforts, opportunities and connections are equally important. Seemingly insignificant encounters may hold the key to changing one's destiny.

Today, Alibaba has become a leading global e-commerce platform, and Jack Ma has become a leading figure in the Chinese internet industry. Yu Minhong's New Oriental continues to play a vital role in the education sector. Their individual successes demonstrate their unique entrepreneurial spirit and foresight.

Whether it's Yu Minhong's regret or Jack Ma's success, both provide a point for contemplation: In the journey of life, opportunities and choices are paramount. Seizing opportunities can lead to achieving one's own brilliance. And for missed opportunities, we should maintain optimism and a broad perspective, continue striving, and create a new future.

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