Page 3 - Alibaba

China's e-commerce giant Alibaba group misses Q1 revenue estimates

Alibaba is also grappling with stiff competition from rivals including JD.com and discount-focused retail platforms such as PDD Holdings' Pinduoduo and ByteDance-owned Douyin

Chinese billionaire criminal secretly profited off Jack Ma's deals

Xiao Jianhua was languishing in detention on bribery and corruption charges - a larger-than-life target of a government crackdown on graft

Former Alibaba India head, 9Unicorn partner launch Rs 1,000 cr fund

Former head of investments at Alibaba Group's India business Raghav Bahl and 9Unicorns ex-partner Soham Avlani on Thursday announced the launch of PROMAFT Partners -- a Rs 1,000-crore venture capital fund. The sector-agnostic fund seeks to invest in companies that have proven exceptional 'product-market-fit'. It plans to make 10-12 investments, with two-three investments in a year. "Growing without product-market-fit is like driving fast in the wrong direction. And product-market-fit without sustainable competitive advantage doesn't create shareholder value. We encourage our entrepreneurs to grow slowly, while investing in the core fundamentals of the business. "We plan to make two-three investments per year. We are backed by prudent investors, which gives our entrepreneurs the advantage to build for the long term," Bahl said. The fund is also backed by Indian family offices and market leaders like Paytm, Zomato, Browserstack, Livspace, PharmEasy, and VideoVerse who will also ...

From terrible bosses to boring jobs: Chinese youth 'sell' work woes online

A recent search found over 500 posts selling 'annoying jobs', 'terrible bosses', and 'hated colleagues', with prices from 2 yuan (Rs 22) to 80,000 yuan (Rs 918,277)

JD.com among possible bidders for British parcel company Evri: Report

JD.com is through to the second stage of bidding after submitting a non-binding offer last month, the people said

AliExpress recruits Beckham as ambassador to 'score more' global sales

Earlier this year, AliExpress also signed on as a sponsor of the UEFA Euro 2024 tournament, which starts in June, where it will invest millions of dollars in discounts

LVMH deepens partnership with Alibaba to enhance tech presence in China

The partnership also illustrates the growing focus of the high end luxury brands on improving online shopping

Chinese tech giants cut prices of language models used to power AI chatbots

It was quickly followed by Baidu, which hours later announced that its Ernie Speed and Ernie Lite models would be free for all business users

Alibaba Q4 results: Profit declines by 86%, beats revenue estimates

Consumers in China have been spending carefully after the Covid-19 pandemic amid an economic slowdown and property slump

Emerging from seclusion, Jack Ma voices support for overhaul at Alibaba

Ma, who's still revered by many of the company's 200,000-plus employees, struck a markedly more upbeat tone than just four months ago

Alibaba offers to buy Cainiao stake for up to $3.75 bn as it drops IPO plan

In the Chinese e-commerce giant's latest u-turn of its restructuring plan, Alibaba, which holds a stake of around 64% in Cainiao, said it was offering to acquire the remaining stock

Alibaba leads largest financing deal to mint $2.5 billion China AI firm

Alibaba joins Tencent Holdings Ltd. and Silicon Valley peers like Microsoft Corp. in placing big bets on generative AI, the technology that powers ChatGPT

Alibaba discloses Chinese govt ownership in over 12 of its business units

The filings come as China's ruling Communist Party said this month that it will play a bigger role in steering the country's technology and science development

Alibaba approves additional $25 bn share buyback as revenue disappoints

Chinese e-commerce firm Alibaba Group Holding on Wednesday approved an additional USD 25 billion authorisation to its share buyback programme, after reporting lower-than-expected sales revenue for the last quarter of 2023. The company's Hong Kong-traded shares plunged 6.8 per cent on Thursday. Alibaba's New York-listed stock price sank 5.9 per cent on Wednesday and has fallen nearly 26 per cent over the past year. Alibaba posted a 5 per cent increase in sales to 260.3 billion yuan (USD 36.67 billion) in the quarter that ended in December, slightly missing analysts' estimates. Net income sank to 14.4 billion yuan (USD 2 billion), down 77 per cent compared to a year earlier. The Hangzhou, China-based firm attributed the drastic decrease to declining values of its equity investments and falling revenues. Alibaba has struggled to sustain its growth and faces increasing competition in the e-commerce sector from rivals such as Pinduoduo and ByteDance, which operates TikTok and Douyin. On

Alibaba Dec quarter results: Revenue at $36.19 billion, misses estimates

The company's U.S.-listed shares, which announced an increase of $25 billion to its share repurchase program through the end of March 2027, were up 3.5% in premarket trading

Alibaba considers sale of consumer assets including Freshippo, RT-Mart

Alibaba announced a plan in March to split into six units and explore fundraisings or listings for most of them. It has since filed a Hong Kong listing application for the logistics arm Cainiao in Sep

Alibaba Group gains as Jack Ma, Tsai reportedly buy $200 million in stock

Ma and Alibaba Chairman Joe Tsai have both being buying up shares in recent months as the stock plunged, the newspaper reported Tuesday, citing unidentified people familiar with the matter

Alibaba names CEO Wu to head its e-commerce business as growth falters

China's Alibaba Group says its CEO Eddie Wu will head its core e-commerce business, as the company seeks to drive growth and fend off fast-growing online shopping rivals like Pinduoduo. Wu is replacing Trudy Dai, a longtime Alibaba executive who was one of the founding employees of the company. Alibaba's chairman Joe Tsai said in an internal letter dated Wednesday that Dai will help set up an asset management company aimed at improving returns on capital and enhance shareholder value. The reshuffle came after PDD Holdings Inc., which operates online shopping platform Pinduoduo and US-focused e-commerce site Temu, surpassed Alibaba in market value in the past month. As of Tuesday, PDD's market capitalization of its US-listed stock was USD 199.41 billion. Alibaba's was USD 191.75 billion. Alibaba founder Jack Ma earlier this month praised PDD for having managed to grow bigger than his Hangzhou-based company, which had for years been China's biggest e-commerce player. Alibaba needs

Jack Ma calls for fundamental changes in Alibaba, urges course correction

Ma, who has mostly stayed away from day-to-day operations since 2020, stunned employees Wednesday by replying to a staff post on Alibaba's internal forum

Alibaba founder Jack Ma gets back into business with 'Ma's Kitchen Food'

Ma, whose comments about China's outmoded financial system helped trigger the crackdown, has since largely devoted his time to agricultural pursuits though his foundation