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Alibaba Group

Chinese giant Alibaba plans to invest $1.1 billion in South Korea

Chinese giant Alibaba plans to invest $1.1 billion in South Korea

Thu, Mar 14, 2024

Alibaba also plans to spend $100 million to help small and midsized South Korean firms sell their products overseas, the document showed.

Alibaba says Daniel Zhang quits cloud business in surprise move

Alibaba says Daniel Zhang quits cloud business in surprise move

Mon, Sep 11, 2023

Zhang had been scheduled to hand over the role of group CEO to Eddie Wu on Sunday and the letter said Wu will also take charge of the cloud business after Zhang's departure.

Advantage Paytm say analysts as Alibaba cuts stake in Vijay Shekhar Sharma-led fintech

Advantage Paytm say analysts as Alibaba cuts stake in Vijay Shekh...

Sat, Jan 14, 2023

China’s e-commerce major Alibaba has reportedly reduced its stake in Indian fintech and payments firm Paytm though a series of block deals recently which analysts say will be a positive the firm.

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Jack Ma hiding in Tokyo amid China's crackdown on tech firms?

Jack Ma hiding in Tokyo amid China's crackdown on tech firms...

Wed, Nov 30, 2022

On Tuesday, the Financial Times, which is owned by the Japanese media company Nikkei, revealed Ma has most recently been living in Japan.

Chinese billionaire Jack Ma plans to give up control of Ant Group Co - effort to move away from Alibaba

Chinese billionaire Jack Ma plans to give up control of Ant Group...

Thu, Jul 28, 2022

Ma has been restructuring his sprawling e-commerce and fintech empire in the aftermath of a sweeping regulatory clampdown on the industry that began in late 2020.

Alibaba overhauls e-commerce businesses, appoints new CFO

Alibaba overhauls e-commerce businesses, appoints new CFO

Mon, Dec 06, 2021

Alibaba Group Holding Ltd said on Monday it was reorganising its international and domestic e-commerce businesses and would appoint a new chief financial officer.

Warburg cuts Ant valuation by 15% to below $200 billion: Source

Warburg cuts Ant valuation by 15% to below $200 billion: Source

Wed, Nov 24, 2021

U.S. private equity firm Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion, a source with direct knowledge of the matter told Reuters.

Alibaba plans $20 billion Hong Kong listing

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

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

Alibaba Singles' Day tops $30 billion but growth rate plunge...

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 annua

Forget Flipkart, Amazon, Alibaba Singles' Day sales hit whopping Rs 72,000 crore in first hour!

Forget Flipkart, Amazon, Alibaba Singles' Day sales hit whop...

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

Alibaba founder Jack Ma was not the No. 1 billionaire in China! C...

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

Warrent Buffet's Berkshire Hathaway in talks to buy stake in...

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

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 inve

Alibaba, Foxconn lead $350 million funding in electric car startup

Alibaba, Foxconn lead $350 million funding in electric car startu...

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

US blocks MoneyGram sale to China's Ant Financial on nationa...

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

Amazon's grocery push playing catch up with Chinese e-commer...

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

Japan's SoftBank plans to increase stakes in India's e-...

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

Paytm enters Canada's market; starts App for utility bill pa...

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

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

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

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

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.

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