Monday, May 27

Tag: alibaba

Alibaba Revenue Jump 32 Percent in Q4
CHINA

Alibaba Revenue Jump 32 Percent in Q4

AFP- Chinese e-commerce giant Alibaba revenue jump 32 percent year-on-year for the quarter ending in December, it said in a statement Thursday, despite slowing growth in the world's second-largest economy. Alibaba, which dominates the consumer-to-consumer market in China, said revenue reached $5.33 billion (CNY 34.54 billion or roughly Rs. 36,155 crores) in the December quarter, beating an average forecast of CNY 33.2 billion in a survey of analysts by Bloomberg News. Investors have hammered the New York-listed shares of Alibaba as a proxy for China's falling growth, weakening currency and domestic stock market turmoil. China's economy grew 6.9 percent in 2015, the slowest rate since 1990. Fourth-quarter growth alone slowed to 6.8 percent, its worst since the global financial cris...
Chinese Shoppers Spent USD 128 Per Person On Overseas Purchases: Alipay Report
ANALYSIS

Chinese Shoppers Spent USD 128 Per Person On Overseas Purchases: Alipay Report

On Tuesday, Ant Financial, Alibaba’s financial service affiliate, released its 2015 Alipay consumer spending report. Alipay is a business operated by Ant Financial and China’s largest third-party online payment service provider. This annual report sheds light on the online consumption behavior of Chinese people and the penetration of mobile internet in China.   1. Shanghai tops the list Shanghai residents topped the list by spending an average of RMB 104,155 (USD 15,832) per person on Alipay in 2015, more than any other provincial-level regions in China. Zhejiang province followed closely at RMB 94,192, with Beijing, Jiangsu province and Fujian province tailing behind. In terms of total payment volume by provincial-level regions, Guangdong, Zhejiang, Jiangsu, Shanghai and Beij...
Decoding: Is Jack Ma the Rupert Murdoch of China?
Story

Decoding: Is Jack Ma the Rupert Murdoch of China?

Last Year China’s e-commerce giant Alibaba announced to buy Hong Kong’s oldest English newspaper the South China Morning Post (SCMP) and other media properties for an undisclosed amount. People related to tech and e-commerce world was surprised on this move. Many were asking questions on motive of acquisition? But People very close to Jack Ma said, Ma’s ambition to explore the media business is strategic. His e-commerce empire has seen him invest in the media sector and he has publically spoken about his interest in the sector. Jack Ma knows clearly why American and other European companies rule over the world? Reason is Media. So why not invest in it to sustain your power. Jack Ma recently told Bloomberg TV during an interview in November that Alibaba needs the media to promote SME...
Due to string of fraud cases in recent years, China Central Bank introduced rules on online payment
CHINA

Due to string of fraud cases in recent years, China Central Bank introduced rules on online payment

BEIJING, (Xinhua) -- China's central bank released detailed regulations of online payment services by non-bank institutions on Monday in the latest effort to contain possible risks in the booming Internet finance industry. The new rules require real-name registration for all non-bank payment accounts and classifies them into three categories depending on the security levels. The size of payments allowed through such accounts will then range from 1,000 yuan (155 U.S. dollars) to 200,000 yuan per year. Transactions through banking payment platforms would not be restricted by the regulation, the central bank said.. The aim of the policy is partly to avoid large sums of money being deposited in third-party payment accounts, which are beyond the protection of bank deposit insurance and...
Alibaba’s Singles Day Sales in Pictures
Story

Alibaba’s Singles Day Sales in Pictures

The craziest shopping day of the year in China, Singles Day, has come to an end. Total sales for Alibaba this year hit $14.3B compared to last year’s $9.3B. All the media headlines are talking about Alibaba’s Singles Day sales data and how much money Alibaba made. I am going to tell you the story behind Alibaba Singles Day Sales. Ever wonder how Alibaba is able to achieve such huge sales numbers? Find out below: Alibaba’s Singles Day sale started at the strike of midnight, and Alibaba employees were all-hands-on-deck ready for the shopping “war.”   Here is the Alipay building all lit up. Alipay is Alibaba Group’s third-party online payment platform with no transaction fees.      Check this out! Temporary beds were set up in the board rooms. Everyone was read...
AllChinaTech exposes Alibaba’s fake $14B Single’s Day sales success
News

AllChinaTech exposes Alibaba’s fake $14B Single’s Day sales success

Alibaba performed insanely well during its Singles Day shopping festival on November 11th bringing in RMB 92.1 billion (USD 14 billion) in sales revenue. Despite this, Alibaba’s stock price dropped from 81.43 on November 10th to 75.85 on November 15th.   Why didn’t remarkable sales performance equate with a boost in stock price? AllChinaTech offers some quick answers. I. Stock price reflects expectations for a company, not necessarily past performance. The past few years have seen Alibaba experience strong growth, but the company is in need of something exciting to prove it can continue the momentum. It was reported last Friday, leading hedge fund manager, James Chanos, suggested shorting Alibaba stock and pitching long on competitor JD.com at a Morgan Stanley conference. Al...
Alibaba making Taobao villages to help China’s rural population
News

Alibaba making Taobao villages to help China’s rural population

Taobao, the popular Chinese online retail platform, has become more important to rural economies across China due to an emerging phenomenon called “Taobao villages”. The popularity of “Taobao Villages” is increasing in China. This trend consists in village residents who sell their handicrafts and products via online. According to Alibaba, Taobao village is any place where 10% of the population is engaged in online retailing. The e-commerce has grown in rural China in 2014, with the number of “Taobao Villages” increasing over tenfold in comparison with 2013. At the end of last year the number of “Taobao Villages” reached 211 while in 2013 there were only 20. Almost half of China’s demography resides in agrarian regions and nowadays, e-commerce has an important potential to boost ec...
Alibaba lobbies to stay off U.S. blacklist list for fakes
News

Alibaba lobbies to stay off U.S. blacklist list for fakes

Reuters - Chinese e-commerce giant Alibaba Group Holding Ltd is lobbying hard to stay off the U.S. Trade Representative's blacklist after coming under renewed pressure this year over suspected counterfeits sold on its shopping platforms. Re-inclusion on the USTR's annual list of the world's most "notorious markets" for sales of pirated and counterfeit goods, while not carrying direct penalties, would be a blow to the company's efforts to shed perceptions that its sites are riddled with fakes and that its anti-piracy policies are inadequate. It could also hurt Alibaba's beleaguered share price.   Two Alibaba sites - the business-to-business platform Alibaba.com and the hugely popular Taobao Marketplace - were on the USTR's "Notorious Markets" list from 2008.Alibaba.com was...
Paytm testing payment models usable in offline mode
News

Paytm testing payment models usable in offline mode

Alibaba-backed Paytm is testing payment models to make its online wallet usable in the offline world — across large retail stores, restaurants and fuel stations — as the company looks for more avenues for the money stored in its digital wallet to be spent. Last week, Paytm, which recently got a payment bank licence from the Reserve Bank of India, started a pilot with Pizza Hut. Under the model, a customer can pay directly from his/her Paytm Wallet by opening the Paytm application and selecting the merchant from the list. "The idea is very simple. We are creating more offline to online use cases for the wallet," said Nitin Misra, vice- president of Paytm. Misra added that the company wants the Paytm app to become the local app for all payment needs be it for bills, groceries, challans, ...
China’s big tech companies backs Indian startups
News

China’s big tech companies backs Indian startups

What we will say, Is this Narendra modi effect or what but China's one of the largest search engine Baidu and one of the country's biggest private conglomerates Fosun are scouting to invest in Indian startups, joining compatriots from the Middle Kingdom eager to profit from the opportunities in the world's fastest-growing major economy. Investment managers from both companies are in talks with Indian venture capitalists and start-ups for potential funding deals, two people directly aware of the development told ET. Taiwan's Foxconn is also an investor in Snapdeal along with Japan's SoftBank. "They (Baidu and Fosun) have been having conversations about specific opportunities — the startup names include niche e-commerce firms as well as some in the enterprise space," said a second source....