Jack Ma, the founder of Chinese e-commerce company Alibaba, is the richest Asian in the world, according to the Bloomberg Billionaire Index. And Ma has been heading the list since 5 April, 2012. Ranked 19th, Jack Ma’s total assets have been declared as $28.7 billion at the time of reporting. With a gain of $62 million, the Alibaba founder is still heading the Asian billionaire count, while Indian businessman Mukesh Ambani is ranked 32nd with total declared assets of $21.3 billion.
Yesterday, Alibaba revealed its latest move towards the gaming space: a new social mobile gaming platform called KTplay. Created together with Beijing-based mobile game startup Yodo1, KTplay is a bit like a more robust version of Apple’s Game Center. But that’s not the only move Alibaba has made recently in the gaming space. In August, the company poured $120 million into American game developer Kabam, and it has also experimented with using its ecommerce sites as a platform for game distribution.
China Daily/Asia News Network– Shopping via mobile phones is fast becoming the main option for spending money in China, with transactions from the not-so-developed western region of the country being the driving force, a report said on Monday. The report, prepared by Alipay, the payment arm of e-commerce giant Alibaba Group Holding Ltd., said more than half of all online payment transactions were made with mobile phones so far this year.
Alibaba revealed today that it’s behind a new social gaming platform called KTplay, which has been in quiet beta for a few months. It’s currently running only in China, but it will later expand to gamers around the world. Alibaba has teamed up with Yodo1, a Beijing-based mobile game publishing startup, to create KTplay (pictured above).
China’s tech industry is far better-known, far more creative, and far more successful than it was ten years ago. But China is still often criticized as lacking innovation. Alibaba founder Jack Ma addressed China’s innovation gap head on in a speech on Monday and a convention in Shanghai, and put the blame on China’s education system, or at least one part of it.
China’s leading entrepreneur, Jack Ma is hungry for more global and domestic expansion. The founder-cum-chairman of Alibaba Group Holdings Ltd. (NYSE:BABA) is launching its e-commerce business in Xinjiang. The online retailer is all set to enter the Xinjiang region and its vicinities in the areas of e-commerce, cloud computing, and big data mechanics. Mr. Ma said, “From here, we see an opportunity; an opportunity to sell produce from Xinjiang to the entire country and the world. Cross-border trade will be our next priority.”
China’s internet icon Jack Ma is unleashing the power of e-commerce in Xinjiang — a move that could help counter extremism in the restive border region. The Alibaba group, Mr. Ma’s brainchild, is now geared up to tap the economic potential of Xinjiang and other neighbouring areas to develop e-commerce, cloud computing and big data. “From here, we see an opportunity, an opportunity to sell produce from Xinjiang to the entire country and the world,” said Mr. Ma, recently at the Xinjiang E-commerce forum. He added: “Cross-border trade will be our next priority.”
BEIJING: The founders of Alibaba Group Holding Ltd and Tencent Holdings Ltd were among a consortium of investors who purchased stakes in Ping An Insurance Group Co of China Ltd in a HK$36.5bil (RM16.15bil) deal, in one of the largest Hong Kong share offerings of the year. Alibaba executive chairman Jack Ma was one of Ping An’s new backers, according to a person familiar with the matter. Tencent chairman Pony Ma also participated, according to domestic financial news magazine Caijing.
Chinese e-commerce giant Alibaba Group Holding Ltd. recently launched new internet TVs in China in partnership with Chinese consumer electronics company Haier Electronics Group.
The new internet TVs come in three different sizes: a 55 inch model, a 48 inch model and a 42 inch model. Reports claim two other models will also be available.
Foxconn Electronics, Alibaba and 21 Vianet Group on November 26 jointly signed with the city government of Guiyang, southwestern China, to set up a citywide network of Wi-Fi hot spots to provide free Internet-access services, according to Foxconn. The first phase of the Wi-Fi network will come into operation in June 2015 and the entire network will be completed in three years, Foxconn said.
In May 2014, Alibaba led messaging app Tango’s $280M financing round, during a period when the mobile messaging space saw giant movements with acquisitions from Facebook (Whatsapp) and Rakuten (Viber) also hitting the headlines. It’s apparent that Alibaba didn’t want to miss out. It has been trying hard to push its own Laiwang app, but has had little success.
Chinese third-party Internet payment service provider Alipay.com announced that the company has established a new subsidiary in Sydney, Australia. Alipay will reportedly continue with a local joint venture with Paybang to meet the shopping demands of Australian and Chinese consumers. Alipay will also work together with Australia Post to promote Alipay shopping cards in 4,400 local retailing sites. With those cards, Australian consumers will be able to directly purchase products from Tmall.com and Taobao.com.
Taobao, China’s smash-hit ecommerce marketplace run by Alibaba, will get an international version in English and other languages, said company founder and chairman Jack Ma today. Ma’s remarks came during a speech at the World Internet Conference and were reported by Reuters. Taobao is a little like Ebay in that it involves person-to-person selling, but many of its merchants are small businesses selling new goods, in contrast for the tendency of Ebay to be full of random people selling secondhand stuff.
Before Singles Day, we laid out four things to watch for to measure Alibaba’s success. One of them was whether the company broke US$9 billion in sales. It did. Another was whether it could deliver on promises to ship quickly thanks to its recent additions in logistics and delivery. The answer to that question is less clear. Alibaba’s delivery subsidiary Cainiao reports that in the three days following Singles Day, it delivered more than 40 million packages. But while that may seem like a lot, Cainiao says that Tmall’s Singles Day sales generated about 278 million delivery orders.
In a monumental e-commerce splurge, Chinese consumers bought a whopping US$9.3 billion in goods on Alibaba Group’s sites on Tuesday, as part of a major online shopping festival that took the country’s Internet market by storm. Local e-commerce giant Alibaba tallied the final figure Wednesday at midnight local time for what’s known as the Singles’ Day holiday in China, an annual event where online retail sites in the country offer big discounts on products.
China’s biggest e-commerce company claims more than USD1 billion worth of goods were sold over its sites within the first 20 minutes of this year’s 11.11 Shopping Festival. Alibaba says it hit USD1 billion in gross merchandise volume at 12:17 A.M. this morning. As impressive was news that nearly half of all transactions took place via smartphones and other mobile devices. Alibaba Group is rolling out the sale worldwide this year. Globally, the company says the strongest overseas traffic was coming from Hong Kong, the U.S. and Taiwan.
China’s online sales bonanza, dubbed Singles Day, exploded into life last night. With China’s ecommerce market still in a strong growth surge, many anticipate this latest Singles Day spending tally to exceed last year’s. At Alibaba’s HQ this afternoon that was confirmed by the real-time data showing that last year’s full-day total of US$5.9 billion spent by consumers was reached at 1:30pm local time today.
Cloud computer and Big Data services will play an important role of future development of China-based Alibaba Group, according to industry sources. To move toward its goal of becoming a cloud computing and Big Data service provider, Alibaba held a developer forum for the advancement of its Aliyun ecosystem in October. Alibaba has also teamed up China ITS, a technology solution and service provider for the transportation industry, to win contracts recently to set up and operate Wi-Fi networks in more than 300 railway stations in China.
The upcoming so-called “Double 11″ online shopping holiday in China will be a crucial test for China-based Internet service giant Alibaba Group Holding after the group debuted on the New York Stock Exchange (NYSE) recently, according to industry sources. The Double 11 shopping festival, which Alibaba started promoting in 2009, has turned out to be an informal holiday for the country’s single people to jump on to shop online.
The international shopping website Gilt announced that the company formally introduced Alipay as a new payment channel. This makes Gilt the latest overseas shopping website partner of Alipay following recent additions iHerb, My Bag, and Rakuten. Founded in 2007 and headquartered in the U.S., Gilt provides instant insider access to top designer labels. Its products cover apparel, jewelry, home supplies and travel products and its services have been expanded from America to over 100 countries and regions around the world.