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Tag: Alibaba

Alibaba’s Ma steps down as industry faces uncertainty

Beijing, Sep 10: Jack Ma, who founded Alibaba Group, the world’s biggest e-commerce company, is stepping down as chairman at a time when the rapidly changing industry faces uncertainty amid a US-Chinese trade war. Ma stepped down Tuesday as part of a succession announced a year earlier. He will […]

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Alibaba Singles’ Day sales hit $10 billion in first hour

SHANGHAI – Chinese e-commerce giant Alibaba Group Holding Ltd settled roughly 69 billion yuan ($9.92 billion) in the first hour of its annual Singles’ Day on Sunday, up roughly 21 percent from last year’s early haul of 57 billion yuan. Singles’ Day is the world’s biggest online sales […]

Alibaba deepens India push with BigBasket investment

open view web desk MUMBAI – China’s Alibaba became the biggest shareholder in India’s leading online grocer BigBasket after a $300-million funding round, stepping up its rivalry with Amazon in the country. Alibaba invested $146 million in the grocer, subscribing to compulsorily convertible preference shares, BigBasket said in […]

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