Jack Ma, the founder of the largest Chinese e-commerce platform Alibaba Group is reportedly stepping down from the position of executive chairman of the company from Monday, marking the end of an era. However, one of the richest men in China, Jack Ma has stated that he will remain on Alibaba’s board of directors. The […]
China’s e-commerce giant Alibaba Group is eyeing considerable investments in India through valuable acquisitions. The company is looking to buy out content platforms across print, video and web to increase its reach within the country. The e-commerce major stated that it looks upon user data privacy and security with seriousness, and therefore stores most of the user […]
China’s largest e-commerce player Alibaba Group Holding Ltd has shown a huge rise in the first-quarter revenue estimates which is majorly due to the growth in its core e-commerce business. However, the company has stated that the investments in the food delivery business are increasing and might overpower the profits. The revenue of the company […]
China’s largest conglomerate Alibaba Group is planning to bring together and merge its food delivery units. The units that are getting merged are food delivery platform Ele.me and food and lifestyle services firm Koubei. The purpose behind this move is to raise funds for the combined business and also to intensify the battle with Tencent-backed Meituan Dianping which […]
China’s e-commerce major Alibaba Group announced on Wednesday that it has agreed to take over a minority stake in China’s Focus Media Information Technology with an aim to tap into the digital marketing segment. The e-commerce giant will be acquiring about 6.62 percent in Focus Media for about 9.63 billion yuan ($1.43 billion) and expectedly yet another […]
Alibaba Group, the popular Chinese conglomerate has announced the launch of its new distribution channel programme with an aim to strengthen its existence in India. The company believes that it is a great time to carry on and grow business in the country. The company had also come up with its new distribution channel programme […]
The e-commerce platform of Paytm known as ‘Paytm Mall’ has raised funds amounting to Rs 1500 crore from Japenese holding company SoftBank Group Corporation and its existing lender Alibaba Group Holding Ltd. According to the reports, the recent funding is a part of the funding commitment of Rs 3,000 crore that was at first announced […]
Paytm, the leading Indian online payments company announced the acquisition of Orbgen Technologies Pvt. Ltd., the firm that operates TicketNew, a ticketing platform based in Chennai. The cost of the deal has not been disclosed yet, but according to stock based transactions, the deal is estimated to have cost between $30-40 million. The deal will […]
Chinese Internet giant Alibaba has bought Pakistani e-commerce firm Daraz in an undisclosed deal in order to expand its operations in South Asia. The deal marks Alibaba’s second wave of international expansion aiming to enter South Asia. Daraz was founded in 2012 and is backed by European Tech Incubator Rocket Internet. It operates in Bangladesh, […]
Paytm has been all over the landscape these past few weeks and days with major consecutive news announcements. This time, Paytm mall, the e-commerce daughter business of Paytm has raised over $445 Mn in funding from Japanese conglomerate SoftBank and Alibaba, the Chinese e-commerce giant. Regulatory filings reveal that SoftBank has been the major investor […]
Alibaba Group, the Chinese e-commerce giant announced that after buying 43% of stakes in Ele.me, a leading food delivery platform, it decided to buy all the remaining shares of the company as it looks forward to compete with Tencent Holdings for offline customers. The deal, which is still in process, will stand at a value […]
Alibaba, China’s leading e-commerce company will appoint one of its founders Lucy Peng as head of Lazada and also invested around $2 billion into Southeast Asia’s leading online shopping firm. The appointment and funding will use to expand the operations in the south-east Asia region. Alibaba is the leading investor in the Lazada group, owns 83% shares. Earlier […]