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Tencent & New Oriental Announce Online Education Joint Venture

New Oriental Education & Technology Group, the Chinese behemoth in private education, announced that it had established a joint venture with Chinese Internet giant Tencent on online education.   The company is named Weixue Mingri which means micro-learning for tomorrows.  Pan Xin, vice president at New Oriental’s online business will be the JV’s CEO and Yu Minhong (aka. Michael Yu), ... Read More »

Alibaba to Launch Mobile Telecom Services in China

The Alibaba Group has announced it will offer telecom services in mainland China including 3G data and voice calls beginning in June 2014.  The telecom packages will be sold through Alibaba Group’s consumer-focused e-commerce platforms, Taobao Marketplace and Tmall.com. The service expansion resulted from HiChina, an Alibaba-owned subsidiary, receiving a mobile virtual network operators’ (MVNO) license from the Chinese government ... Read More »

Alibaba to Launch Mobile Gaming Platform

Alibaba plans to launch a mobile gaming platform which will open a new revenue stream.  Alibaba intends to take a 20 per cent cut of revenue from app sales and in-app purchases with developers taking 70 per cent.  The remaining 10 per cent of revenue will be donated to charity. The platform will store payment options, virtual currencies and game ... Read More »

Alibaba Group Processed more than US$5bn in Sales on China’s “Singles Day”

During the Chinese equivalent of Black Friday, November 11, Alibaba processed more than $5.75 billion in sales.  In contrast Americans spent $1.9 billion dollars online during Black Friday and Thanksgiving The Alibaba sales were processed by its subsidiaries Tmall and Taobao. On Tmall, big brands sell to consumers. On Taobao, small businesses and consumers sell to consumers. November 11 is known ... Read More »

Alibaba Sales ‘to Surpass Entire US e-Commerce’ by Year End

Alibaba’s chairman Jack Ma stated that sales of Alibaba Group Holding Ltd’s e-commerce business are expected to surpass those of the total retail e-commerce in the United States by year end.   Alibaba has a also a near-term target to exceed Wal-Mart to become the world’s largest e-commerce retail company by 2015.  Ma added that Alibaba aims to be an innovative company, just as Wal-Mart was in the last century, when the ... Read More »

Alibaba Reshuffles and Jack Ma Steps Down

Alibaba Group announced it will undergo another major restructuring to adapt to China’s changing e-commerce environment and reaching the company’s goal of becoming an e-commerce “ecosystem”. The latest Alibaba restructuring sees the company divided into 25 business units, which will be overseen by two committees – a strategic committee and an execution committee primarily made up of nine top company ... Read More »

Alibaba Restructures 0nline Advertising Divisions

Alibaba Group announced the return of Alimama, an ad exchange platform launched by Alibaba in 2007, to cover wireless advertising for the company’s online platforms including the consumer-focused Taobao. Alimama will also merge with Taobao Alliance, an affiliate advertising program of Taobao which currently provides ad services for the platform. Taobao Alliance will reportedly continue as a business line on ... Read More »

Taobao Removed from U.S. List of “Notorious” Pirate Markets

The Office of the U.S. Trade Representative (USTR) announced the removal of Alibaba Group’s consumer-focused e-commerce platform, Taobao, from its list of “notorious markets” of pirated and counterfeit goods. The USTR’s annual report names websites and physical venues “that have a negative impact on legitimate businesses and industries of all sizes that rely on intellectual property to protect their goods ... Read More »

Taobao Surpasses 1.2 million Users in Hong Kong

Hangzhou-based e-commerce giant, the Alibaba Group announced that its consumer-focused platform, Taobao, has surpassed 1.2 million registered users in Hong Kong as of September this year. The closely followed the announcement in June this year after Taobao Hong Kong broke through the one million mark. Taobao’s management stated that its next priority is to improve users’ shopping experience by further ... Read More »

Alibaba Reaches Transaction Value of 1 Trillion RMB

Alibaba Group, announced the sales volume through its various marketplace platforms, including Taobao and Tmall, surpassed RMB 1 trillion (US$157 billion) from January to November this year. This figure surpasses the combined transaction value of other e-commerce leaders, Amazon and eBay. Earlier this year, Alibaba recorded US$3 billion in sales transactions in a single day from its marketplaces. All payments ... Read More »

Alibaba Second Quarter Net Income Doubles as Chinese Consumers Go Online for Goods

Alibaba’s second quarter revenue grew 71% to $1.08 billion from $631.2 million.    Net income jumped to $273 million in the three months ended June 30, from $118.9 million in the same period a year earlier.  The big jump in the China-based e-commerce giant’s earnings highlights the rapid shift by many Chinese consumers to the Internet for goods, away from traditional ... Read More »

China’s E-commerce Market Valued at US$45 bil in Q2

Recently published research claims that the transaction volume of China’s e-commerce industry reached US$44.5 billion in the second quarter of 2012 – a jump of 45% year-on-year. According to a report published by Analysys International claims that the consumer-focused arm of Alibaba Group, Taobao, holds a 76% market share of China’s e-commerce industry with transaction volume exceeding US$31.9 billion in ... Read More »

Taobao Kicks-off Expansion Plans in Hong Kong and Taiwan

Alibaba Group’s consumer-focused e-commerce platform Taobao is looking to expand its operations outside China in the near future. Taobao reportedly announced at a press conference this month that the company has already attracted close to two million users in Greater China – including 1.2 million members in Hong Kong and 500,000 in Taiwan. Alibaba sees Hong Kong and Taiwan as ... Read More »

Taobao and Film Studios Agree to Fight Pirated Content

Six major international film studios and Taobao Marketplace have agreed to work together to stop the sale and distribution of pirated movies, TV shows and other audiovisual content on China’s largest online shopping platform. The overall goal of a memorandum of understanding signed by Taobao and the film studios’ representative, the U.S.-based Motion Picture Association (MPA), is “to promote a ... Read More »