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Alibaba Group Revenues in 4th Quarter Up 66%

Alibaba Group reported net profit in the quarter of US$1.4 billion, up from US$642 million from the same quarter in the previous year.   Revenues in the period grew 66% compared with the same quarter in 2012, amounting to US$3.1 billion. The company attributed the 11th November online shopping festival as a key driver of growth, during which Tmall.com and Taobao.com, ... Read More »

Alibaba to Launch US Consumer E-commerce Site “11 Main”

Alibaba plans to launch its first majority owned E-commerce venture in the US.  “11 Main” (business-to consumers) is to be launched by Alibaba’s US subsidiaries Vendio and Auctiva.  Alibaba did not disclose any details other than describing it as a boutique ecommerce platform selling interesting quality products from hand-picked shop owners.  Alibaba, though its English language website ‘AliExpress’, currently connects ... 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 Restructures Alipay

Alibaba’s online payment unit of the Alibaba Group Ltd will be restructured to attract new strategic investors, in a move that will reduce the shareholding of Alibaba’s founder Jack Ma in Alipay. Zhejiang Alibaba E-Commerce Co Ltd will be restructured as a new company in which 60 percent of its shares will be offered to new strategic investors. Ma will ... 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 »

Landmark Verdict in China: Court Convicts Online “Malicious Feedback” Blackmailers

The Hangzhou Shangcheng District People’s Court delivered a landmark verdict against a growing class of criminals in China called “malicious feedback agents” on July 3, 2013.  The Court found 11 men and one woman guilty of extorting money from online merchants on Taobao Marketplace, among other sites, by threatening to post neutral to negative buyer ratings. The ringleader recruited his ... Read More »

Alibaba Leadership Change

At the 10th anniversary celebration of Taobao.com Jack Ma, founder of Alibaba, stepped down as CEO and handing over the position of CEO to Jonathan Lu Zhaoxi. Ma first announced the decision on January 15 and Alibaba chose Ma’s successor in March.   Ma will continue to serve as chairman and make strategic decisions.  “I am CEO of Alibaba until ... 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 »

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 »

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 Group’s new Partnership and Mapping Service

Pakistan & China, 24th October: Alibaba.com, the B2B subsidiary of e-commerce giant Alibaba Group, has reportedly entered into a partnership agreement with Pakistan-based Pearl Shine Group International (PSGI) to help small businesses from Pakistan to market their products and services overseas. According to media reports, Alibaba.com reportedly has 650,000 Pakistani small and medium enterprises members. Separately, Alibaba’s consumer-focused division Taobao, ... Read More »

Alibaba Valued at US$40bn

According to the latest media reports, Chinese e-commerce company Alibaba Group is now the most valuable private tech company in the world.  Alibaba is now worth an estimated US$40 billion based on the company’s recent buyback of half of the shares held by Yahoo. According to a ranking list compiled by Business Insider, Alibaba’s next closest competitors are financial news outlet Bloomberg (US$35 billion), micro-blogging ... 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 »

Alibaba Group Splits into Seven New Units

The Alibaba Group has announced a reorganization splitting the company into seven major business groups.  The seven groups will be made up of online shopping marketplaces (1)Taobao.com,  (2)eTao, (3)Tmall.com, (4) Ju Hua Suan, (5) Alibaba International Business Operations (formerly the B2B unit); (6) Alibaba Small Business Operations (the domestic B2B unit); and (7) AliCloud, the Group’s cloud computing and information ... Read More »