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Tag Archives: Alibaba

Alibaba Completes Acquisition of Umeng

Mobile app analytics platform Umeng has announced that it was acquired by the Alibaba Group, but declined to reveal any financial information about the deal.  Umeng will retain operational autonomy as an independent company upon completion of the acquisition. Alibaba’s wireless division director Eddie Wu has disclosed that the company will assist in positioning Umeng as a comprehensive mobile developer ... 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 Mulls Stake in Sina Weibo

According to various media reports, China’s largest e-commerce company, Alibaba Group, is planning to buy a stake in NASDAQ-listed Sina’s Weibo, one of China’s most popular microblogging services. Weibo, China’s equivalent of Twitter, is reportedly valued at around US$2 billion to US$3 billion, where Alibaba is looking to buy a 15%-20% stake. According to financial services provider Credit Suisse, the ... 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 »

Yahoo: How to Spend US$ 6.2bn?

Yahoo sold half of its holdings in Alibaba for about $7.6 billion.  Yahoo received approximately US$6.3 billion in cash and US$800 million in preference shares in Alibaba Group.  Concurrent with the initial repurchase, Alibaba Group paid Yahoo a one-time cash payment of US$550 million in connection with the amendment of their existing technology and intellectual property license agreement. After taxes, ... Read More »

Alibaba Buys Half Of Yahoo’s Stake

Alibaba Group has completed the initial repurchase of shares from Yahoo for about $7.6 billion.  The closing follows the May 20, 2012 announcement by Alibaba Group and Yahoo of a plan for Yahoo to reduce its stake in Alibaba Group in stages over time and a series of agreements to implement the restructuring of the ongoing relationship between the two ... 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-Yahoo Deal In the Making

The Alibaba Group will pay its key shareholder, U.S.-based Yahoo! Inc., US$7.6 billion to buy back a 20% stake in the company as a result of the agreement reached in May this year. Yahoo is expected to receive US$7.1 billion as soon as next week, as well as a US$550 million payment related to the ending of annual licensing fees ... Read More »

Alibaba Eyes Online Financing Partnership

According to media reports, Alibaba Group chairman and CEO, Jack Ma, is looking to establish a joint venture to create an Internet-based financing business. The two other partners involved are reportedly represented by Ma Huateng, founder and CEO of Chinese Internet firm Tencent Holdings and the Ping An Insurance Group, respectively. In April 2010, Alibaba was granted a license in ... 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 »

Alibaba Delisted from Hong Kong Stock Exchange

Alibaba.com, the B2B arm of e-commerce company, Alibaba Group, was formally delisted from the Hong Kong Stock Exchange after an agreement was reached at a shareholders’ meeting in May. Alibaba will pay US$2.45 billion, or US$1.74 per share (HK$13.50), for the 27% stake held by public minority shareholders of Alibaba.com. Alibaba.com’s revenue has more than doubled from US$471 million (RMB ... Read More »

Alibaba’s Tmall Cuts Prices, Expands Product Range

Hangzhou, 12th June: Chinese ecommerce giant, the Alibaba Group, unveiled a series of plans to diversify and boost sales on its B2C platform Tmall. In a bid to attract more customers, Alibaba aims to reduce the price of goods sold on Tmall by subsidising vendors to the tune of US$47 million. The goods targeted will mainly be sold in the ... Read More »

Alibaba and Yahoo Agree On Buy-out Deal

Alibaba will buy back half of Yahoo’s 40 per cent stake for a minimum of $7.1bn, a figure pegged to Alibaba’s most recent fundraising valuation of $35bn. Yahoo will receive $6.3bn in cash and up to $800m in newly issued Alibaba preferred stock. To finance the deal Alibaba will raise a mix of debt and equity capital. If the new ... Read More »

Alibaba-Yahoo Negotiations Resume – Taobao Staff Arrested in Graft Case

According to media reports, China’s largest e-commerce company Alibaba Group has once again begun to negotiate with Yahoo to buy back 15% – 25% of the 40% stake which Yahoo currently holds. A previous attempt in February this year to arrange a US$17 billion tax-free asset swap failed to materialize. Yahoo’s CEO Scott Thompson disclosed during the company’s Q1 earnings ... Read More »

Alibaba Fights Corruption in its e-Commerce Business Taobao

Alibaba Group recently announced that it has launched an investigation into corruption within the company in response to a newspaper story alleging that Alibaba’s C2C e-commerce platform, Taobao.com, was full of corruption. Alibaba said that it has permanently shut down nine online stores that did business on Taobao.com and turned over several corrupt Taobao employees to the police.  Yang Lei, ... Read More »

Alibaba Hires ex-U.S. Official to Lobby in Washington

The Alibaba Group announced it has hired former general counsel of the U.S. Trade Representative Office (USTR), James Mendenhall, to aid its discussions with the U.S. government and industry groups over intellectual property rights protection. Alibaba is currently appealing to the U.S. Government to remove the company’s B2C e-commerce platform, Taobao, from the U.S.’s list of “notorious markets” for piracy. ... Read More »

Alibaba in New Talks with Yahoo?

The leadership change at Yahoo (NASDAQ:YHOO) looks to be prompting a fresh wave of friendly overtures toward partners Alibaba and SoftBank Capital. The Hong Kong-based Alibaba and Japan’s SoftBank have been making efforts to buy back shares from Yahoo. The California company owns 40 percent of Alibaba and 35 percent of Yahoo Japan, of which Softbank is the largest owner. ... Read More »