Alibaba

Alibaba's Jack Ma meets Trump to discuss job creation in U.S.

Alibaba's Jack Ma meets Trump to discuss job creation in U.S.

Beijing [China], Jan. 10 : Chinese e-commerce giant Alibaba's chairman Jack Ma, in a meeting with U.S. President-elect Donald Trump in New York, has discussed plans to create one million new jobs in America, by helping small businesses sell goods to China.

The meeting,on Monday, which comes under strained relations between Beijing and the incoming U.S. administration, is a sign that a door has been left open for pragmatic cooperation with Chinese companies, despite Trump's tough stance on China, according to Chinese experts.

Alibaba shares could drop another 50%: Barron's

Alibaba shares could drop another 50%: Barron's

According to Barron’s, shares of Alibaba Group Holding Ltd that fell below their initial offering price after having climbed 75% in their first two months of trading are expected to lose another 50% of their value.

The reasons the weekly financial newspaper gave for the dour outlook: China's struggling economy, increasing competition in e-commerce and more scrutiny of the company's culture and governance.

According to Alibaba spokesman, Bob Christie, the article “contains factual inaccuracies and selective use of information, and the conclusions the reporter draws are misleading”. A letter has been posted by the company to Barron's editor in which it has complained about the story.

Alibaba to invest 28.3 billion yuan in Suning

Alibaba to invest 28.3 billion yuan in Suning

According to Alibaba Group Holding Ltd, it is going to invest 28.3 billion yuan in Suning Commerce Group Co Ltd, yielding a cross-investment agreement that connects leading e-commerce company of China with one of the largest privately owned retailers in China.

In a joint statement, the two companies said that the alliance would merge their strengths in online and offline commerce.

For example, according to the companies, Alibaba customers could go to one of Suning's outlets in China for trying out a product prior to buying it on Alibaba's website with help of their smartphone. Suning would be working with Alibaba's distribution network for delivering products in even two hours. The company has long talked about its formidable logistics operation.

Evergrande Taobao Files for Initial Public Offering in China

Evergrande Taobao Files for Initial Public Offering in China

Evergrande Taobao, the football club in which Alibaba invested last year, is seeking an initial public offering on China's nascent over-the-counter equity exchange. The Hong Kong-listed property developer has filed an application to list the loss-making football team on China's National Equities Exchange and Quotations Co. (NEEQ).

As per Reports, Evergrande Real Estate in June raised its stake in the football club to 60%. According to a filing to the NEEQ, Alibaba, which earlier had a stake for a 50% now, has only 40% in the team.

Evergrande Taobao, formerly called Guangzhou Evergrande, is one of China's most successful football clubs. It was the first Chinese team to win the Asian Football Confederation Champions in 2013.

Alibaba, Ant to invest 3 billion Yuan each in a new venture

Alibaba, Ant to invest 3 billion Yuan each in a new venture

Alibaba Group Holding Ltd. and its finance affiliate will invest 3 billion Yuan ($483 million) each. This will be done in a new venture focusing on neighborhood services in China.

According to a statement, in the beginning, the Koubei venture with Zhejiang Ant Small & Micro Financial Services Group Co. will target the food and beverage sector. And both companies will offer capital and resources in order to drive the business.

The investment could be very helpful for Koubei, which earlier operated through Alibaba's retail marketplace, Taobao. It indicates the Chinese companies' latest efforts to develop local services, where customers pay for services like laundry pickups and make restaurant bookings in addition to hospital appointments in their neighborhood using smart devices.

Alibaba All Set To Launch Movie Streaming Service

Alibaba All Set To Launch Movie Streaming Service

Alibaba, the Chinese e-commerce company after selling several million televisions to its Chinese buyers has decided to sell them stuff to watch as well.

Reuters reported on June 14 that the service known as 'Tmall Box Office' (TBO) the will offer its viewers with a mix of third-party and in-house content, as well as domestic and foreign videos.

It also told that almost 90% of the content on TBO will be paid for either by subscription or per broadcast.

An Alibaba spokeswoman told Quartz the service will run through Alibaba's set-top box, which gets content from Wasu Media, a film distribution company that Alibaba founder Jack Ma has invested in.

Jack Ma’s Visit to US not meant for US Market Share

Jack Ma’s Visit to US not meant for US Market Share

Chinese e-commerce giant Alibaba Group Holding Ltd is not looking forward to battle for US market share. It is rather looking to provide help to small US businesses to sell more goods in China, said Executive Chairman Jack Ma.

Ma is due for a visit to the United States this week to discuss Alibaba’s global strategy and to clarify many wrong beliefs about the company, spokesman Greg Jenkins said in an email.

Ma told the Economic Club of New York on Tuesday that their visit to the US is not at all intended to compete. Alibaba’s dominant domestic online marketplaces are the major source of Alibaba’s revenue. However, the company has showed increasing interest in investing money in a gamut of sectors abroad.

Alibaba Pictures looks forward to $1.6bn share sale

Alibaba Pictures looks forward to $1.6bn share sale

Alibaba Pictures, the film unit of Chinese e-commerce giant Alibaba, is looking forward to raise $1.6 billion by selling 4.2 billion new shares in Hong Kong in order to help finance future media-related acquisitions.

Alibaba's Hong Kong-listed film production unit wants to raise at least HK$12.1bn ($1.6bn) from a share placement; the ecommerce group intends to spend the amount on acquisitions.

The Alibaba Pictures is a majority owned by the Chinese ecommerce group. There are no specific takeover targets mentioned by it, however it is looking forward to a determined expansion in China's film industry.

Kering files lawsuit against Alibaba

Kering files lawsuit against Alibaba

Kering, French luxury goods holding company and owner of the world's best-known luxury brands, filed a case against Chinese e-commerce company Alibaba Group Holding Ltd. The lawsuit has been filed on Friday in federal court in Manhattan. The fashion companies that filed the lawsuit include Gucci, Balenciaga, Yves Saint Laurent and brands owned by Pierre Bergé headquartered Kering.

According to the lawsuit, the company is displeased with popular web platform Alibaba's efforts to deal with the problem of counterfeiting of its brands. The lawsuit claimed that the Hangzhou, Zhejiang, headquartered Alibaba and its associated companies intentionally did not stop the sale of counterfeits on their online platforms. A copy of the lawsuit was reviewed by The Wall Street Journal.

Alibaba to introduce ‘Smile to pay’ technology that will allow users to pay using Selfie

Alibaba to introduce ‘Smile to pay’ technology that will allow users to pay

A mobile purchase security system is being developed by Chinese e-commerce merchant Alibaba. The security system would authenticate payments by matching a photo taken by the user at the time of purchase with one stored on their smartphone.

The technology is currently being tested by Ant Financial, an Alibaba affiliate that runs the Alipay payment service, which is China's largest online and mobile payments service.

Apart from the new selfie-based payment scheme, Ant Financial is also developing another voice-command activated verification method before purchasing online.

The facial-recognition payment system called 'Smile to Pay' was demonstrated by Jack Ma, founder and CEO of Alibaba Group Holdings, at the CeBIT 2015 conference in Germany this week.

Alibaba to invest $200 million in SnapChat

Alibaba to invest $200 million in SnapChat

Chinese e-commerce company Alibaba has planned to invest about $200 million in SnapChat, a photo messaging application that allows users to share self-destructing photos. The application is currently banned in China. According to an individual at Alibaba familiar with the deal, Imran Khan was the key to the deal. Imran Khan was hired by Snapchat as Chief Strategy Officer in December 2014.

Concerns over Fake Transactions lead to Fall in Alibaba shares by nearly 3%

Concerns over Fake Transactions lead to Fall in Alibaba shares by nearly 3%

On Tuesday, Alibaba witnessed its shares declining by almost 3%. The fall led the China-based online retail platform operator's shares to a new low since its listing and its main reason is concerns with regard to fake orders.

Among sellers struggling for increasing sales and to gain importance, fake transactions are considered to be normal. These sellers hire 'brushers' who act as customers and purchase items with the money given, said Wall Street.

Alibaba's founder becomes 2014's biggest winner with 18.5 billion dollar profit

Jack MaWashington, Dec 17 : According to a list of 2014's biggest winners and losers, from the research firm Wealth-X, Alibaba's founder Jack Ma has made more money than anyone else with a profit of 18.5 billion dollars this year.

According to CNN, Ma has increased his wealth by 173 percent. The former English teacher who started his Chinese online market place with 60,000 dollars is now worth a total of 29.2 billion dollars.

Ma's banner year is tied to Alibaba's IPO in September this year which was the biggest ever.

Alibaba raises IPO price range in wake of increasing demand

AlibabaLondon, Sep 16 - Alibaba has raised the price range of its initial public offering (IPO) in the wake of increasing demand for the firm's shares.

The move means that the IPO could raise more than 25 billion dollars when it lists in New York, the BBC reports.

In an official filing, the Chinese Online giant said that it was planning to price its shares somewhere between 66 dollars and 68 dollars per share.

With an 80 percent market share of China's electronic commerce, Alibaba's sites also include Taobao, Tmall, and AliExpress .

The company is selling 123.1 million of the 320.1 million shares in the IPO, the report said. (ANI)




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