Alibaba Group announced its financial results for the first quarter of the 2020 fiscal year ended June 30, 2019. The Chinese tech behemoth had a strong quarter across the board, beating estimates on revenue and earnings despite the uncertain market conditions due to the US-China trade tensions.
Chinese e-commerce giant Alibaba is in talks with NetEase to acquire its cross-border e-commerce platform Kaola. Once the two agree on final details, Kaola would merge with Alibaba’s cross-border arm Tmall, according to LatePost on Aug. 14.
JD.com, China’s e-commerce giant and retail infrastructure service provider, saw positive results from its second quarter of 2019, according to the newest earnings report released on Aug. 13.
The tech industry is used to clashes between corporate rivals. Major conflicts between corporate titans usually result in the emergence of a victorious monopoly like Google, or Facebook.
Salesforce announced on July 24 that Chinese e-commerce giant Alibaba is now the exclusive cloud services provider for the American Customer Relationship Management (CRM) service provider in Greater China.
According to the newly released Fortune 500 list, Xiaomi managed to break through now ranking 468th. Lei Jun, founder of Xiaomi, has previously stated that Xiaomi aims to break into the global Fortune 500 list. Now Xiaomi has achieved this goal.
On June 22, 2019, Juhuasuan, Alibaba’s flash sale and marketing platform, launched the upgraded version of “Jutudi,” a digital initiative to help Chinese farmers optimize their supply chain and offer consumers better deals.
Alibaba Group CEO Daniel Zhang took to the stage in Hangzhou to share his visions on platform economy and how it could make global commerce more inclusive.
Alibaba Group, Russian Direct Investment Fund, MegaFon, and Mail.ru Group have built a joint venture to integrate Russia’s key consumer internet and e-commerce platforms and launch a leading social commerce joint venture in Russia and the CIS.
During the recent March Quarter 2019 earnings conference call, Alibaba’s Vice Executive Chairman Joe Tsai began by “addressing the elephant in the room”, which is the current US-China trade war.
As video sharing apps go viral on social media, Alibaba invested over $100 million into Vmate, which is previously owned by its subsidiary UCWeb.
Alipay released its second sustainability report on May 20 in Beijing. The report is titled “Moving towards a better society for the future”, and lists the company’s initiatives and achievements from 2017 and 2018 that had positive social impacts.
On May 15th, Alibaba Group announced their financial results for the quarter and fiscal year that ended in March 31, 2019. Their announcement coincided with that of Tencent, who also launched the financial results for the first quarter 2019.
In recent research conducted by a marketing and communications group WPP and consulting firm Kantar, Alibaba was named the most valuable non-US retail brand in the world.
Netflix has purchased exclusive distribution rights to stream Chinese streaming website Youku’s original web series “I Hear You” outside of China, said the Alibaba-owned video site on May 10.