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All posts tagged "Alibaba"

  • Alibaba officially registers biggest ever US IPO

    Alibaba has raised US$21.8-billion ahead of its stock market debut, meaning that it is responsible for the largest IPO in US history. According to multiple sources, the ecommerce giant, its executives and early investors split some 320-million shares up at a value of US$68 a share. The value of Alibaba's IPO puts it well ahead of the US$16-billion Facebook managed to raise in its IPO a couple of years back. It's even larger than the US$17.9-billion Visa managed to raise in its 2008 IPO and falls just short of the US$22.1-billion raised by the Agricultural Bank of China in what...

  • BurnCast: Alibaba and the biggest tech IPO in history

    Welcome to BurnCast, our weekly podcast that discusses tech trends, innovation and news. Hosted by Mich Atagana and Stuart Thomas. Alibaba's upcoming IPO is one of the most eagerly anticipated in tech history. The Chinese ecommerce giant is pushing for a stock market debut that could see it raise even more than the US$16-billion Facebook managed to raise in its IPO, giving it a massive valuation. On this week's BurnCast, our hosts...

  • Alibaba looks to close gap between physical and online, pumps $629m into Chinese department store chain

    China’s biggest ecommerce company is fusing online shopping with good, old-fashioned brick-and-mortar retailing. Sort of. Today, Alibaba announced a US$692 million investment in InTime Retail, which has 28 department stores and eight shopping malls across China. The deal will allow users of Alibaba’s ewallet app, Alipay, to make in-store payments at all InTime malls and department stores after tying the app to virtual prepaid cards. There’s no indicated launch date for this feature. The partnership between the two shopping giants will also result in some online changes. Shoppers on Alibaba’s Tmall site will be able to claim InTime members...

  • Why Sina Weibo, Alibaba’s US IPOs make complete sense

    Two of China's biggest online players are getting ready to launch IPOs in the US. On Friday, the Twitter-like microblogging service Sina Weibo filed for a US$500-million IPO while Alibaba kicked off the process for its own public offering, widely expected to be the biggest since Facebook's in 2012. As Reuters points out, Sina Weibo's is just the latest in a long line of Chinese companies to file for an IPO in the States including search giant Baidu and its own parent company Sina Corp. Unlike many of the other companies however, its product can be drastically affected by...

  • Does Yahoo!’s local site closure signal that it’s given up on China?

    The few people who bother to visit the Yahoo China homepage will notice something different today. A couple of weeks after Yahoo! shuttered its Chinese email service, the embattled company has now pretty much given up on the Chinese market altogether with the closure of its Yahoo China portal. That cn.yahoo.com portal now displays a brief goodbye message (pictured below) before redirecting to a civic responsibility page on Taobao, the ecommerce site run by Alibaba. Remember that Alibaba operates Yahoo China, and Yahoo retains a 20 percent stake in the Chinese e-shopping giant. Rival MSN China remains fairly strong in the...

  • Alibaba reportedly set to buy stake in streaming video service PPTV

    Chinese ecommerce giant Alibaba is apparently in the final stages of talks to buy a stake in streaming video service PPTV, with an announcement set to come soon. According to Sina Tech, which broke the news, the deal has been in the works for some time now, but it's still unclear whether Alibaba is looking to acquire the video streaming company or will settle for just a stake. There were apparently a number of parties interested in getting their hands on a slice of PPTV, but Alibaba may have been favoured because the two companies have a common...

  • Alibaba’s Tmall, Taobao see US$3bn in sales in 24 hours

    Tech in Asia recently suggested that China’s biggest e-commerce sales/discounts day could beat America’s Cyber Monday in value -- and that’s precisely what happened during yesterday’s “Double Eleven” online shopfest. Indeed, two of China’s biggest sites, Tmall and Taobao (both owned by Alibaba Group), beat out all US e-tailers by themselves, seeing sales transactions worth RMB 19.1-billion (US$3.043 billion) during the 24-hour promotional period. That makes Tmall and Taobao’s Double Eleven sales worth more than double America’s entire Cyber Monday shopping spree, which brought in US$1.25-billion in 2011. With Cyber Monday in the US growing at only about 22 percent...

  • China’s Alibaba wants to be bigger than Android

    You can't really accuse China's tech and online giants of being short on ambition. Not when a company like Alibaba, already likely to pass Amazon and eBay in sales this year, says it wants to beat Android in China. At the company's annual Alifest conference over the weekend it revealed that transactions on its recently reorganised ecommerce platforms are set to triple this year, hitting the 3 trillion RMB ($473 billion), which will more than likely see it pass its chief Western rivals Amazon and eBay. “From annual reports we did a rough calculation and...

  • Google is the latest rumoured Yahoo! buyer

    Google, is "mulling" a bid for its search rival, Yahoo! the Wall Street Journal reports. This the latest news to surface from the "who's looking to buy Yahoo!" rumour mill. According to people who are familiar with the matter but declined to be named, Google has entered into discussions with a number of private equity firms regarding how such a deal would be structured. They also stressed, however, that nothing had been finalised as of yet. "Google and prospective partners have held early-stage discussions but haven't put together a formal proposal," the newspaper said. The report furthermore stressed that even...

  • Alibaba chair delivers Yahoo! ultimatum

    Alibaba Group Chairman Jack Ma has delivered an ultimatum to Yahoo!. The head of the Chinese online retail giant says he expects an answer from once-dominant US tech firm within weeks to his offer to buy all or part of it. Delays, he added, were hurting both firms. The Chinese entrepreneur denied having a US$20-billion war chest ready for the ailing Yahoo! He added, however that money would not be the biggest...

  • China’s Alibaba halts fee hike after massive web protest

    Chinese internet giant Alibaba says that it will delay a fee hike for some sellers on its online shopping site after a storm of protest over the planned rise. The group also announced that it will invest 1.8-billion yuan (US$284-million) in its Taobao Mall site. This as the firm looks to help disgruntled small vendors. The announcement came after tens of thousands of users attacked big brands on the site, threatening to place...

  • Alibaba CEO ‘interested’ in buying Yahoo!

    Jack Ma, CEO of Chinese web giant Alibaba is reportedly “interested” in buying Yahoo! and claims to have been approached by private equity groups about doing a deal. According to the Wall Street Journal, Ma made the comments during a recent “China 2.0” event held at Stanford University. It wasn't clear, however, whether any formal steps had been taken toward a Yahoo! purchase. According to the Journal, a spokesperson for Ma refused to...

  • Alibaba CEO discusses future with Yahoo!

    Jack Ma, founder of Alibaba was recently questioned regarding the future of Yahoo's stake in his firm. He gave no insight as to what may happen down the line. One point that he is adamant about is that Alibaba was in no way responsible for the very recent dismissal of Yahoo! chief Carol Bartz. Speculation has been rife that Yahoo! is now planning to dissociate itself from its Asian acquisitions, which include companies such as Alibaba. This may be part of the "strategic review" following Bartz's departure. At an annual Alibaba gathering of entrepreneurs, Ma said, "These days, we have...

  • Yahoo! settles dispute with Chinese partners, Alibaba

    US Internet firm Yahoo! and Japan's SoftBank have announced that they have reached an agreement with their Chinese partners at Alibaba Group in a dispute over online payments platform Alipay. Alibaba Group -- which is 43 percent owned by Yahoo! -- "will continue to participate in Alipay's future financial performance, including a future IPO or other liquidity event," the companies said in a joint statement. Under the terms of the agreement, Alibaba Group will...

  • Chinese police arrest 36 in Alibaba fraud case

    Police have arrested 36 people in southeast China following an investigation into fraud on e-commerce site Alibaba.com and other websites that duped buyers out of more than US$6 million. Alizila.com, Alibaba's corporate news website, reported earlier this week the suspects were detained in Fujian province's Putian city in April. John Spelich, the firm's spokesman, confirmed the report on Saturday. The people arrested allegedly operated a criminal gang that used fake IDs to open...