Alibaba Group has announced that it generated RMB 213.5 billion that is equivalent to $30.8 billion of gross merchandise volume on November 11th on the occasion of the singles day. This is an increase of 27% compared to 2017. Continue reading “Alibaba’s singles day global shopping festival 2018 generated $30.8 billion in 24 hours”
Chinese conglomerate Alibaba has officially announced that Daniel Zhang, CEO will succeed Jack Ma as chairman of the board, starting September 10, 2019. Continue reading “Daniel Zhang to succeed Jack Ma as Alibaba chairman next year”
Alibaba is said to be working on an Amazon Echo rival aimed at Chinese market, according to a latest report from The Information. Citing sources familiar to the matter, the publication stated that Alibaba could launch the voice-activated smart speaker sometime this week.
Continue reading “Alibaba is said to be working on Amazon Echo like smart speaker”
Paytm E-Commerce, the online marketplace arm of One97 Communications is all set to raise $200 million from Chinese e-commerce major Alibaba, along with investment firm SAIF Partners, as per a latest PTI report. Continue reading “Paytm E-commerce to secure $200 million from Alibaba and SAIF Partners”
Alibaba and SAIC Motor had jointly developed Roewe RX internet car that was unveiled at Beijing motor show in April earlier this year. Now the companies have officially launched (via)the car that features smart technology from Alibaba’s operating system YunOS.
Continue reading “Alibaba and SAIC Motor launch internet car Roewe RX5 with YunOS”
Paytm has appointed former head of Alibaba Group Holding’s wholesale business, Bhushan Patil, as its new president, as per a latest report from PTI. He will focus on building company’s cross-border commerce.
Continue reading “Paytm ropes in former Alibaba executive Bhushan Patil as president”
Chinese smartphone makers have already disrupted the Indian smartphone market and now it looks like they want to shake the e-commerce scenario in the country as well. Alibaba, the Chinese e-commerce giant is planning to enter the Indian e-commerce market, according to a latest report from PTI.
Continue reading “Alibaba plans foray into Indian e-commerce market in 2016”
With an aim to up its game in the fiercely competitive e-commerce market, Flipkart is looking forward to secure a whopping $1 billion in a latest round of funding, according to a report from Tech Crunch.
Continue reading “Flipkart eyeing upto $1 billion in funding, valuation expected to be downsized”
Yahoo has announced that it has killed its plan to spin off its $32 billion stake in Alibaba Group Holding Ltd. The company will now transfer the assets and liabilities excluding the Alibaba stake to a newly formed company.
Continue reading “Yahoo suspends plans to spin off Alibaba stake”
Alibaba has announced Pay Watch smartwatch that is designed and manufactured by Shenzhen-based company FiiSmart. The smartwatch from the company operates on the new “YunOS for Wear”.
Continue reading “Alibaba announces Pay Watch smartwatch running YunOS, starts at $110”
Snapdeal has secured $500 million in latest round of funding from Alibaba, Foxconn and existing investor SoftBank, according to a latest report from Re/Code. The news comes after a WSJ report from June said that Alibaba and Foxconn are looking to invest in Snapdeal.
Continue reading “Snapdeal secures $500 million in funding from Alibaba, Foxconn and SoftBank”
Micromax is looking forward to sell one fourth of its stake or about $700 million (Rs 4,200 crore) to Alibaba, according to a latest report from the Economic Times.
Continue reading “Micromax eyes to sell over 20-26% stake to Alibaba”
Snapeal is about to secure a major round of funding. Chinese e-commerce giant Alibaba Group Holding Ltd and Foxconn Technology Group are in advanced talks to jointly invest about $500 million in Snapdeal.com, according to Wall Street Journal report.
Continue reading “Alibaba and Foxconn looking to pump $500 million in Snapdeal”
Paytm is gearing up to raise $375 million from existing investor, Alibaba Group, as per a report from Live Mint. The online payment processor, owned by One97 Communications Ltd will be valued at $1.83 billion if the deal is through.
Continue reading “Paytm looking forward to raise $375 million in funds from Alibaba”
China’s e-commerce giant Aibaba Group is looking forward to buy a 20% stake in homegrown smartphone maker Micromax, as per a latest report from Reuters.
Continue reading “Alibaba reportedly eyeing $1.2 billion stake in Micromax”