Alibaba could move into Indian market with $500m investment in One97 Communications January 12, 2015 Alibaba could soon expand its global influence by purchasing a stake in India’s One97 Communications for over $500m. Alibaba and payment service provider unit Alipay are said to be in advanced talks to buy between 30 and 40pc of the Indian company which owns mobile payment platform Paytm. According to Reuters sources, One97 [...]
Alibaba has spent $160m weeding out counterfeits December 24, 2014 Recently-listed Chinese e-commerce giant Alibaba has admitted it's spent $160m (£103m) since the beginning of last year sniffing out counterfeit goods on its site. The company, which made the largest stock market debut in history back in September when it raised $25bn on its listing in New York, said today it is planning to increase [...]
Hong Kong stock exchange chief exec Charles Li writes to Santa to lament loss of Alibaba IPO December 22, 2014 Writing a letter to Santa: At primary school it’s expected, for early teens it’s understandable, for sixth formers it’s a little strange. But for the chief executive of one of the world’s biggest stock exchanges it’s downright bizarre and just a bit bonkers. Charles Li, chief executive of the Hong Kong stock exchange [...]
The UK, Alibaba and Nigel Farage are the biggest winners of 2014 December 18, 2014 As the year draws to a close it's a good time to reflect and look back on who will be cheerfully toasting 2014, after looking at those poor souls who've been dealt nothing but coal this year. This lot have plenty of reason for good cheer this holiday season – here's our pick of the [...]
Alibaba moves London tech headquarters to Canary Wharf December 14, 2014 Chinese e-commerce giant Alibaba has moved its London headquarters from Mayfair to Canary Wharf as the Docklands continues to develop as a rival tech hub to Old Street. Alibaba, which raised a record $25bn (£15.9bn) when it went public in September, is now based on Level 28 of the iconic One Canada Square, just below [...]
Snapchat picks up Credit Suisse banker who led Alibaba’s float December 9, 2014 SNAPCHAT made its money-making intentions clear yesterday with the appointment of a major investment banker from Credit Suisse. Evan Spiegel, the 24-year-old founder of the hugely popular messaging app, has brought in heavy-hitter Imran Khan, formerly the head of investment at Credit Suisse who led the bank’s team on Alibaba’s $25bn (£15.9bn) float this year. [...]
Alibaba debut bond is more than five times oversubscribed November 20, 2014 Chinese e-commerce giant Alibaba has $43bn (£27.4bn) of orders from investors in yesterday’s debut bond offering, more than five times what it was said to be seeking. Asia’s biggest internet company planned to sell the debt in a seven-part transaction, sources who asked not to be identified because the details were private told Bloomberg. Alibaba [...]
No broken heart for Alibaba on Singles Day November 11, 2014 CHINESE online retail giant Alibaba eclipsed sales records yesterday and recorded 57.1bn renminbi (£5.9bn) worth of transactions, amounting to a whopping 278m orders – many of which came from mobile phones. The retailer took advantage of shopping phenomena Singles Day, similar to Cyber Monday in the US, during which customers snap up big discounts.
Alibaba Singles Day 2014 sales are three times bigger than last year’s Black Friday and Cyber Monday sales combined November 11, 2014 Alibaba has made over $9bn from its Singles Day sales bonanza. $9.3bn (£5.67bn) worth of sales to be exact. In 24 hours. No wonder investors were so keen to get a slice of that pie earlier this year. What started as a day for lonely hearts to celebrate singledom by purchasing gifts for [...]
What is China’s Singles Day? Alibaba nears record-breaking billion-dollar sales target in one day November 11, 2014 The 11th day of the 11th month has a very different meaning in China – in case you haven't heard, today is Singles Day, because of the combination of two 'ones'. But having initially been a day for young singles to meet future partners, and also eat lots of deep fried dough sticks and dumplings, [...]