Alibaba Group Holding Co. reported results on Friday (May 22) that showed continued pivots to online commerce and mobile shopping, amid lockdowns that have shuttered brick-and-mortar retailers. The company said that its gross merchandise volume (GMV) passed a milestone level of $1 trillion. In terms...
Banking giant HSBC and Cainiao Network Technology, which is a logistics arm of Alibaba Group, have announced they will offer rapid finance approvals to online merchants that use Chinese shopping site Tmall, according to reports. The South China Morning Post reported that the firms will...
In its latest quarter, Alibaba Group saw its sales come out ahead of expectations, spiking 38 percent. The Chinese online shopping company had revenue of $23.19 billion or 161.45 billion yuan in the quarter concluding on Dec. 31, which was higher than 117.28 billion yuan a...
A source told Reuters on Sunday (Nov. 24) that Amazon is opening a store on the Chinese eCommerce site Pinduoduo. Amazon closed its marketplace in China in July after realizing it could not compete with rivals like Alibaba’s Tmall marketplace and JD.com. Although Alibaba and...
June 15, 2023
Alibaba, the Chinese eCommerce behemoth, is planning to expand its Tmall eCommerce site to Europe, according to Michael Evans, president of Alibaba Group. Speaking at the Viva Tech conference in Paris, Evans revealed that the company’s move into Europe reflects a significant shift in strategy for Alibaba’s international eCommerce operations. “You will see something called […]
March 20, 2020
Banking giant HSBC and Cainiao Network Technology, which is a logistics arm of Alibaba Group, have announced they will offer rapid finance approvals to online merchants that use Chinese shopping...
February 13, 2020
In its latest quarter, Alibaba Group saw its sales come out ahead of expectations, spiking 38 percent. The Chinese online shopping company had revenue of $23.19 billion or 161.45 billion yuan...
November 24, 2019
A source told Reuters on Sunday (Nov. 24) that Amazon is opening a store on the Chinese eCommerce site Pinduoduo. Amazon closed its marketplace in China in July after realizing...
