China’s bike rental giant, Ofo announced it raised $866 million investment led by Alibaba Group, with additional partners in Haofeng Group, Tianhe Capital, Ant Financial and Junli Capital. The company is using a combination of debt and equity financing for this round of investment. A statement from the company claimed that this new funding represents […]
The multinational e-commerce giant Alibaba is planning to buy a minority stake of upto $500 million in Dailyhunt (formerly known as Newshunt), an online news providing platform said two people close to the development reported livemint. According to the duo, Alibaba has already offered a deal closing at $500 million to Dailyhunt but the news […]
Alibaba Group on Sunday revealed that it will be working towards expansion of its retail footprint and has announced that it invested RMB 5.45 billion (around $867 million) for 15% stake in Beijing Easyhome Furnishing, China’s second-largest home-improvement supplies and furniture chain and invested $486 million in Shiji Retail Information Technology, for 38% stakes. “The […]
Apple Inc will accept Chinese mobile payment app Alipay in its local stores, boosting its ties with giant e-commerce firm Alibaba Group Holding Ltd amid a push by the iPhone maker to revive growth in the world’s No.2 economy. The tie-up will make Alipay, run by Alibaba affiliate Ant Financial, the first third-party mobile payment […]
Alibaba’s payment affiliate- Ant Financial has invested $200 million in restaurant discovery and food ordering app Zomato, latest stock exchange filings by Zomato’s largest stakeholder- InfoEdge revealed. InfoEdge currently holds 45% stake in Zomato, and informed Bombay Stock Exchange on Thursday that the funding round includes a $50 million secondary share sale to Ant Financials, […]
Alibaba will pump in up to USD 300 million in online grocery player, BigBasket, according to industry sources. The deal, which is expected to be announced in the next few weeks, will give BigBasket more muscle to compete against rivals like Grofers and e-tailing giant Amazon, they said. The sources did not wish to be […]
[dropcap]C[/dropcap]hina’s biggest social network and gaming firm Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters. Tencent has made a “breakthrough” in gaining an e-payment license in Malaysia for local transactions, and plans a launch early […]
[dropcap]I[/dropcap]nternet giant Alibaba Group Holding Ltd said on Monday it would invest HK$22.4 billion ($2.87 billion) for a major stake in China’s top hypermart operator, Sun Art Retail Group Ltd, part of a wider push into offline retail. As part of an alliance with Auchan Retail S.A. and Ruentex Group, Alibaba would buy the stake […]
[dropcap]C[/dropcap]hinese e-commerce giant Alibaba’s CEO Daniel Zhang said that their company sees India as a “very important” market, on occasion of the 11/11 Global Shopping Festival. “Globalisation is one of our key strategies for Alibaba. As part of this strategy, India is a very important topic. India is a very important market for us to […]
Alibaba’s Singles’ Day shopping bonanza has broke last year’s all time high of $18.2 billion by 1:09 PM in Beijing with hours to go before the final bell. The annual frenzy had already hit $8.6 billion in sales in the first hour after starting at midnight, and by 8 a.m. some 82 brands had topped […]
Chinese e-tailing giant Alibaba has been reported seeking formal approval Competition Commission of India(CCI) to acquire substantial stakes in the Indian online grocery startup BigBasket. Earlier in July, Alibaba and SoftBank backed Paytm initiated a discussion to acquire stakes by investing $200 million in the online grocer. Although Paytm and BigBasket declined at that moment […]
UCWeb, part of Alibaba Mobile Business group, today launched its innovative mobile marketing platform, UC Ads in India. “UC Ads will provide an intelligent content marketing solution to enable established brands and emerging businesses reach out to right set of audiences across India at the right time,” it said in a statement. The collaboration with […]