The Alibaba DAMO Academy, a research and development institute run by Alibaba Group, published its forecast of the trends that would define the global tech industry in 2020.
Following Alibaba’s historic secondary listing on the Hong Kong stock exchange, other Chinese tech giants including Baidu are considering a similar strategy, according to IPOzaozhidao.
Alibaba Cloud announced that the source code of Alink, its self-developed algorithm platform, has been made available via open source on Github, the world’s largest developer community.
Alibaba Group’s financial services affiliate Ant Financial is preparing to raise $1 billion for a fund that will invest in fintech startups in Southeast Asia and India.
Alibaba Group debuted on the Hong Kong stock exchange, becoming the first Chinese company to be publicly listed in both Hong Kong and the United States.
According to CNBC, in the first half of 2019, ByteDance generated more digital ad revenue than both Tencent and Baidu, with only Alibaba generating more.
The top five smart speaker brands included Amazon (10.4 million units), Alibaba (3.9 million units), Baidu (3.7 million units), Google ( 3.5 million units) and Xiaomi (3.4 million units).
However, when their e-commerce rivals like Alibaba’s Taobao and JD.com were boasting about their inflated GMV numbers during the shopping festival, Pinduoduo took another approach.
Just as Alibaba celebrated their new record of $38.4 billion in GMV on the Singles’ Day shopping festival, rumors questioning the integrity of those numbers surfaced and circulated on Chinese social media platforms.
Alibaba’s annual 11.11 Global Shopping Festival has only just begun and it has already generated $12.0 billion in GMV (84 billion yuan) during the first hour since the event kicked off at midnight.
On November 8, Alibaba Group announced an additional investment of roughly $3.3 billion to increase its equity stake in the logistics company Cainiao they launched in 2013.
