Friday, March 29

Search Results for: alibaba

Alibaba-backed Ride Hailing company Raised “millions of funds”

Alibaba-backed Hellobike which is one of the largest bike-sharing apps announced that it raised “millions of funds” in a new funding round. The company declined to reveal details on the funding amount and use of the proceeds. The round was led by Ant Financial,  the financial affiliate of Alibaba and maker behind digital wallet Alipay, and […]

Huawei, Alibaba, Xiaomi top Fortune List of China’s Most Innovative Companies

China has announced its list of the most innovative companies in the country and Huawei was ranked first among the most innovative company in China, followed by Alibaba and Xiaomi, in a list published by Fortune China. The Chinese-language edition of Fortune released its ranking of “China’s most innovative companies for 2018” on Wednesday after […]

Kishore Biyani Looks for an Opportunity to Create an Indian Amazon/Alibaba

The founder of Future Group Kishore Biryani is looking forward to grab the opportunity to build an Indian Amazon or Alibaba. This has come up after the government has banned online marketplaces from selling products by companies in which they hold stakes and also curbed exclusive marketing arrangements that could influence product prices. “It’s a game-changer […]

Alibaba Appoints new CEO for its Southeast Asia e-commerce Firm

Alibaba has appointed a new CEO at its e-commerce firm in Southeast Asia known as Lazada. Previous CEO Lucy Peng stepped down to be replaced by Lazada executive president Pierre Poignant after just nine months in the role. The company owns 90 percent of Lazada and has been involved in the business since April 2016 when it bought […]

Alibaba Settles $9.92 Billion in the First Hour of its Annual Singles’ Day

China’s largest e-commerce platform Alibaba Group has reportedly settled roughly 69 billion yuan ($9.92 billion) in the first hour of its annual Singles’ Day on Sunday. The amount is up by 21% from last year’s early haul of 57 billion yuan. This has by far been the largest-ever Singles’ Day to date. Alibaba Singles’ Day is the […]

China’s Alibaba Partners with a Swiss Luxury Goods Firm

Chinese e-commerce giant Alibaba has reportedly announced a partnership with Swiss luxury goods group Richemont for the purpose of developing platforms in China for high-end products. According to the deal, Richemont’s online unit Yoox-net-a-porter and Alibaba will set up a joint venture with two mobile phone applications that are Net-a-Porter and Mr Porter. This is basically being done to serve […]

Zomato to Raise $210 Million from Alibaba’s Online Payment Firm

The food delivery and restaurant discovery major Zomato has reportedly entered into a deal to raise funds amounting to $210 million (roughly Rs. 886 crores) from Alibaba’s online payment platform Alipay Singapore. This funding news has come a few weeks after the food-ordering platform announced the acquisition of TongueStun, a Bengaluru-based startup that serves corporate catering space […]

Alibaba Launches its Second Availability Zone in India

The cloud computing arm of the Alibaba Group has reportedly launched its second availability zone in Indian city Mumbai. The company stated that this freshly built zone will complement the first availability zone that was opened in January this year. This will provide products such as Elastic Computing, Storage, Database, Network, Application Services and Big Data Analytics […]

Alibaba Along with Mail.ru Launches a New Joint Venture

China’s e-commerce major Alibaba and Russia’s internet company Mail.ru have announced that they have entered into a deal to launch a joint venture in Russia and former Soviet countries. The new venture will be called AliExpress Russia, taking after the name of an existing Alibaba platform. The two groups and the Russian sovereign wealth fund […]

Alibaba Founder Jack Ma will Step Down in 2019

With all the speculations regarding Alibaba’s Jack Ma’s expected retirement, the company announced today that its CEO, Daniel Zhang, will succeed Ma as chairman next year, exactly one year after on Sept 10, 2019. After resigning from the role of chairman next year, Ma will continue serving as a board member until its annual general […]