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Alibaba Group News
Alibaba plans $20 billion Hong Kong listing
Tue, May 28, 2019
Alibaba Group is considering raising as much as $20 billion through a second listing and has picked Hong Kong as the venue.
China publishes final rules for new tech board
Sat, Mar 02, 2019
China has long wanted its tech champions to list closer to home, but many of the best-known Chinese technology firms, including Alibaba Group Co Ltd and Tencent Holdings, chose to raise funds in international markets.
Alibaba Singles' Day tops $30 billion but growth rate plunges
Sun, Nov 11, 2018
Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan ($30.70 billion) in sales on Sunday during its 24-hour online retail frenzy Singles` Day, but the event`s annual growth dropped to its slowest-ever rate.
Forget Flipkart, Amazon, Alibaba Singles' Day sales hit whopping Rs 72,000 crore in first hour!
Sun, Nov 11, 2018
A disproportionately large number of sales are recorded in the first minutes of the 24-hour spending spree, when transactions are recorded for items that have been put on hold.
Alibaba founder Jack Ma was not the No. 1 billionaire in China! Check what happened now
Wed, Oct 10, 2018
With 270 billion yuan (USD 39 billion) in wealth, Jack Ma's family became the richest in China, dethroning Evergrande Chairman Xu Jiayin, whose wealth fell by 40 billion yuan to 250 billion yuan, (about USD 36 billion), the state-run China Daily reported on Wednesday.
Warrent Buffet's Berkshire Hathaway in talks to buy stake in Paytm: Report
Mon, Aug 27, 2018
One of Berkshire`s key fund managers, Todd Combs, who is also seen as a potential chief investment officer at the company, is leading the transaction, the newspaper reported.
Alibaba Group tops revenue forecasts as investments clip margins
Fri, May 04, 2018
Alibaba Group Holding Ltd reported better than expected top line results on Friday, driven by strong sales in its commerce and cloud computing units, even as margins were squeezed by flurry of investments.
Alibaba, Foxconn lead $350 million funding in electric car startup
Mon, Jan 29, 2018
Xiaopeng, which debuted its electric car at CES in Las Vegas this month, is one of several Chinese start-ups looking to speed up development of battery-powered technology and compete with global leaders including Tesla Inc.
US blocks MoneyGram sale to China's Ant Financial on national security concerns
Wed, Jan 03, 2018
The US government has toughened its stance on the sale of companies to Chinese entities, at a time when Trump is trying to put pressure on China to help tackle North Korea`s nuclear ambitions and be more accommodative on trade and foreign exchange issues.
Amazon's grocery push playing catch up with Chinese e-commerce giants
Thu, Jun 22, 2017
China`s Alibaba Group Holding and JD.com Inc have invested heavily in offline retail - bricks-and-mortar stores - in recent years to complement their online offerings.
Japan's SoftBank plans to increase stakes in India's e-commerce biz; looks to play consolidator in online shake-up
Sun, May 07, 2017
Japan's SoftBank is seeking to secure a piece of India`s industry leaders in everything from payment systems to online shopping and groceries, in a series of deals that would shake up the $65 billion sector, cited the sources with direct knowledge of the matter.
Paytm enters Canada's market; starts App for utility bill payments, insurance & property taxes
Fri, Mar 17, 2017
Paytm enters into Canada market by launching Paytm Canada App, which will allow users from the country to pay for their cell phone, cable, internet, electricity and water bills alongwith insurance and property taxes.
Snapchat owner Snap raises $3.4 billion in IPO -source
Thu, Mar 02, 2017
The successful IPO pricing clears a major hurdle for Snap, which will go public without having yet turned a profit. The company`s losses widened last year, and it is experiencing decelerating user growth in the face of intense competition from larger rivals such as Facebook .
China third-party mobile payments climbs to $5.5 trillion
Sat, Feb 25, 2017
A survey by Nieslen, a US-headquartered global information data and measurement company, showed that about 86% of Chinese consumers paid for online purchases with mobile apps, far outnumbering that of other countries, it said.
Ghosts of past tech IPOs could haunt Snap's performance
Sat, Feb 25, 2017
Globally, shares of most of the 25 largest technology IPOs have languished in their first 12 months on the public market, with 16 of them notching a hefty decline from their debut day closing price, according to a Reuters analysis of market performance. Eight of the 10 biggest fell by between 25 percent and 71 percent.
Alibaba's financial arm acquires MoneyGram
Fri, Jan 27, 2017
"The acquisition of MoneyGram is a significant milestone in our mission to bring inclusive financial services to users around the world," Eric Jing, chief executive officer of Ant Financial Services Group in a statement last night.
China's Alibaba quarterly revenue surges 54% to $7.7 billion
Tue, Jan 24, 2017
Chinese e-commerce giant Alibaba said on Tuesday its revenues leapt 54% year-on-year for the quarter ended in December, spurred by rapid growth in Chinese online shopping.
Taiwan's Foxconn invests $120 million in Chinese ride-hailing start-up Didi Chuxing
Thu, Sep 08, 2016
Taiwan's Foxconn has invested $119.9 million in Chinese ride-hailing firm Didi Chuxing via one of its subsidiaries, the world`s largest electronics manufacturer said on Thursday, in a deal that could value the start-up at about $33.7 billion.
Paytm may raise about Rs 2000 crore at $5 billion valuation
Mon, Aug 29, 2016
The deal may take two months, the report said.