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Alibaba Group Announces Expansion of Cross-Border E-commerce Initiatives

Alibaba will set up country pavilions and cooperate with foreign embassies to enhance global trade between small businesses and the Chinese market Alibaba Group Holding Limited (NYSE:BABA), announced an expansion of its cross-border e-commerce initiatives, including the launch of 11 official country pavilions on its Tmall Global platform and cooperative partnerships between Juhuasuan, Alibaba’s group-buying platform, and 26 foreign embassies ... Read More »

Alibaba launches Korea Pavilion on Tmall.com

Alibaba Group, has announced the launch of a Korea Pavilion on its Tmall.com platform.  Tmall.com’s Korea Pavilion opened on 18th May and allows any Korean retail goods to be listed. Tmall.com’s Korea Pavilion was introduced in a ceremony at the aT Center by Jack Ma, founder and executive chairman of Alibaba Group, and Choi Kyunghwan, Deputy Prime Minister of Korea. ... 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 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 Invests US$692 million in Department Store Operator Intime

Alibaba and Intime announced that they have partnered each other to beef up the online shopping experience on Alibaba by connecting to Intime’s physical stores and membership system.  To this extent, Alibaba has agreed to invest about $692 million in Intime.  This will essentially give Alibaba a presence in the physical world.  At the end of 2013, Intime operated 36 stores, ... 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 Invests in Data Content Services Provider Citic 21N

Alibaba said it has agreed to invest in Citic 21CN, a data and content service provider whose business includes managing data on pharmaceutical products.  In a statement Thursday, Alibaba said it and Yundeng Capital will jointly invest a total of $170 million in Citic 21CN to take a 54.3% stake in the company.  Of that stake, Alibaba will hold 38.1%. ... 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 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 »

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 »