Tag: Alibaba

Shanghai: Chinese e-commerce giant Alibaba on Monday announced generation of whopping $30.8 billion in terms of Gross Merchandise Value (GMV) during Singles’ Day sale — the 24-hour annual shopping event — held on November 11, beating the last year’s record of $25 billion. Around 180,000 brands had participated in the sale on all retails platforms […]

Beijing: Chinese e-commerce giant Alibaba created over 36.8 million jobs in 2017 via its expansive retail ecosystem, a report showed.   The company’s various e-commerce platforms like Tmall and Taobao, which cover over 500 million consumers, offered about 14.05 million jobs to online retailers in 2017, Xinhua news agency quoted the Renmin University of China […]

Hangzhou (China): Alibaba, the Chinese e-commerce giant, is all geared up for its upcoming 11.11 Global Shopping Festival scheduled on November 11. As per reports, the annual sales event will see participation of as many as 140,000 brands this year. “Over 140,000 brands will participate in this year’s 11.11 festival, offering more than 15 million […]

Kigali: Founder and Executive Chairman of Alibaba Group Jack Ma is expected to attend the inaugural of YouthConnekt Africa Summit to be held next month here, Rwandan ministry of youth and ICT said on Sunday. Rwanda hosts the meeting from July 19 to 21 that will primarily focus on youth entrepreneurship and to explore and […]

Beijing: Alibaba’s Mobile Business Group on Thursday said Young Li has been elevated as the head of International Business Department, and in his new role he will be in charge of the overseas business of UCWeb. Young has previously headed the UC News where he spearheaded the product in markets such as India and Indonesia. […]

Bengaluru: South Korean Asset financial group Mirae-Naver, Chinese e-tail behemoth Alibaba group and British development finance institution CDC on Monday said they have collectively invested $150 million (Rs 1,040 crore) in grocery major BigBasket’s firm Supermarket Grocery Supplies Ltd. “The new funds will be used to finance our growth through penetration into markets with more […]

New Delhi: Digital payments player Paytm on Tuesday partnered non-banking financial company Clix Finance to offer instant digital loans to customers and merchants on its platform. The company would offer loans to Paytm customers and merchants through “Deferred Payment or Postpaid” and “Merchant Lines” facilities. Using proprietary Machine Learning (ML) models developed by Paytm and […]

Beijing: Alibaba co-founder Jack Ma is stepping down as Chairman of the multi-billion dollar e-commerce behemoth on Tuesday as the company celebrates its 20th anniversary. Ma, who turned 55 on Tuesday, announced last year that he would retire within a year, with the company CEO Daniel Zhang taking over as the Chairman of the board. […]

New Delhi: A Gurugram district court has summoned tech giant, Alibaba and its founder Jack Ma in a case where a former employee said he was wrongfully sacked after he objected to censorship and fake news on the company’s apps. As per reports, a former employee of Alibaba’s UC Web, Pushpandra Singh Parmar has alleged […]

New Delhi: The ugly face-off between Chinese President Xi Jinping and billionaire entrepreneur Jack Ma is set to deal a big blow to investments in the country. At a time when several foreign companies are looking at diversifying their supply sources by relocating their manufacturing facilities outside China, this recent development could lead to further […]

Beijing: After China’s top market watchdog began investigation last week into alleged anti-competition practices by ecommerce giant Alibaba, media reported on Monday that the country has now laid out ‘rectification plan for the Jack Ma’s fintech venture Ant Group. According to a report in TechCrunch, the People’s Bank of China, the country’s central bank, “summoned […]

Beijing/New Delhi: Taking its war against billionaire Jack Ma’s empire to a new level, the Chinese government has reportedly asked his conglomerate Alibaba to dispose of its media assets. According to a The Wall Street Journal report citing people familiar with the matter, Chinese officials are more “concerned about the technology giant’s sway over public […]