Luxury Jeweller Tiffany & Co. Joins Alibaba’s Tmall Luxury Pavilion
Alibaba Group, the Chinese e-commerce giant, announced on August 16 the addition of luxury jeweler Tiffany & Co. to its Luxury Pavilion on the Tmall shopping platform.
Former Baidu COO Lu Qi to Head Y Combinator in China
Lu Qi, AI expert and former Chief Operating Officer of Baidu Inc., was named founder and Chief Executive Officer of Y Combinator China, signaling the Silicon Valley incubator’s ambition to expand its global operations.
Paypal Eyeing Chinese E-commerce Business, Strives for Payment License in China
PayPal has been negotiating incessantly with Chinese regulators for the past four years to obtain a payment license to enter the large market, as The Paper reported on August 10.
Qualcomm Settles $774 Million Anti-Trust Disputes in Taiwan, Pledges to Invest More
U.S. mobile chipmaker Qualcomm announced on August 10 that it has settled an anti-trust case with Taiwan’s Fair Trade Commission(TFTC). Qualcomm paid out for a total of $93 million, which was reduced from $774 million. It further pledged to invest $700 million more in Taiwan within the next five years.
Jack Ma Establishes a $10 Million Prize to Support Young African Entrepreneurs
Jack Ma announced on August 8 the establishment of the Africa Netpreneur Prize to encourage young Africans to start their own businesses. 800 entrepreneurs, venture capitalists, researchers and policymakers witness the launch of prize at the “Netpreneurs: The Rise of Africa’s Digital Lions” conference in Johannesburg, South Africa.
Alibaba to Launch Taobao Buy, A New Mixed Reality Shopping Experience
Taobao, Alibaba’s e-commerce subsidiary, will launch a brand new product this year called Taobao Buy (Taobao Maia). It is incorporated with mixed reality (MR) technology to bring consumers a futuristic shopping experience.
Flying with Brown the Bear: DJI Launches its First “Characterized Drone”
DJI announced on August 6th its first “characterized drone,” a partnership product with LINE FRIENDS, adding fun to the drone technology.
Google May Reopen its Business in China
China’s largest state-owned media group posted on its twitter account to welcome Google back in China, a signal that this time the global Internet giant might return for real.
Tesla Suffers Biggest Loss, China Factory to Be Built Through Local Bank Loans
Elon Musk, CEO of Tesla, confirmed amid the company’s record loss that he will not sell any stocks. Tesla’s Gigafactory 3 in China, although costing less than expected, will be built through local bank loans.
JD Launches its First International Unmanned Store in Indonesia
China’s leading e-commerce platform JD.com opened its first overseas unmanned store, JD.ID X-Mart, an AI-powered experience store in the Indonesian capital of Jakarta.