Hundsun, a well known supplier of financial software and network services, announced on Weibo that Zhejiang Rongxin owned by Alibaba’s founder Jack Ma acquired Hengsheng Group with 3.299 billion yuan (USD 534.38 million) on April 3, 2014. Zhejiang Rongxin holds 20.62% of stake in Hundsun, becomes the largest shareholder.
Demystify Alibaba’s Money Fund Yu’E Bao
Alibaba’s money fund Yu’E Bao belongs to Tianhong Asset Management, which was found on May 29 in 2013. How did Yu’E Bao perform in the past 2013?
How A Chinese Taxi-Hailing App Reached 100 Million Users in 77 Days
Didi Taxi, a popular Chinese taxi-hailing mobile app backed by Tencent, released its data on Wechat Official Account (didi-taxi) on March 31, 2014. By March 27, the bonus for Didi Taxi app hit 1.4 billion yuan (USD 226.81 million), and its registered users increased to 100 million.
Weibo Files for IPO on Nasdaq, Under the Ticker “WB”
On April 1 2014, Sina Weibo renewed its prospectus and announced that Weibo will be listed on Nasdaq as “WB”. On March 15 in 2014, Sina Weibo submitted Form-1 to Securities and Exchange Commission for financing USD 500 million, half of which will be used to pay off debt and the other half will invest […]
Alibaba’s CEO Jack Ma On Fortune Top 50 Greatest Leaders in 2014
Fortune Magazine named “Top 50 Greatest Leaders”on March 20 in 2014, Amazon’s CEO Jeff Bezos ranked the NO.10, the highest ranking for IT leaders. Chinese leader, Alibaba’s CEO, Jack Ma also named on the list, before Apple’s CEO Tim Cook and Youtube’s CEO Susan Wojcicki.
Alibaba Upgrades Integration With Sina Weibo in 8 Aspects
On March 15, 2014, Sina Weibo filed for a USD 500 million IPO on the Nasdaq. In April 2013, Alibaba purchased Sina Weibo’s 18% stake with USD 585.8 million, which brought USD 49.14 million advertising revenue in 2013. It accounted for 33% of advertising revenue. The deal also secured that Alibaba an option which allows […]
Alibaba Confronts With Amazon in Cloud Computing
As Jack Ma, founder of Alibaba, announced the strategy of “cloud app”, the two global giants in e-commerce – Alibaba and Amazon confronted with each other in cloud service. In Beijing office, AWS (Amazon Web Service) China was fighting for their goal in the first quarter of 2014: the first batch of Chinese clients will […]
China B2B Market Overview for 2013
According to report released by EnfoDesk, China B2B market GMV reached 7.1 trillion Yuan (USD 1.16 trillion) in 2013, with a 19.7% YoY growth. The market revenue was 16.98 billion Yuan (USD 2.76 billion), increasing 25.1% compared to last year. EnfoDesk regarded 2013 as the first year of a new growth cycle of China B2B […]
100M Mobile Payments in 7 Days, Alipay Triumphed Through Spring Festival
During 2014 Spring Festival,over 100 million payments were made via mobile Alipay, accounted for 52% of overall payments by Alipay in this period, according to the data from Alipay Wallet (the mobile client of Alipay).
China Mobile Shopping Market Snapshot in 2013
China mobile shopping market reached 167.64 billion yuan (USD 27.459 billion) in 2013, with 165.4% YoY growth. The market kept increasing rapidly under the circumstance of a better network coverage system and higher mobile terminal penetration. In the same period, the size of online shopping by PC is nearly 1600 billion yuan (USD 262.08 billion), with a […]
Registered Taobao Stores in China’s Rural Areas Up 76.3%
Taobao and AliResearch released Taobao Village Report 2.0 on December 27, 2013. By the end of November 30 2013, Taobao (including Tmall ) registered online stores located in China rural areas increased 24.9%, and the number in villages and towns rose 76.3% compared to the end of 2012.
Alibaba B2B Transaction Reaching USD 50M per Day in 2013
Alibaba vice president revealed in public that Alibaba B2B platform 1688.com achieved daily transaction of 300 million yuan (USD 49.1 million) after a year’s transition to online wholesale transaction platform.
Top Shopping Keywords on Taobao in 2013
Taobao published top searched keywords on Taobao recently. The information could be helpful to marketers and decision makers understanding Chinese consumers’ shopping habit.
Amazon Ready to Launch AWS in Chinese Market
Sina tech news released on December 18 2013, that Amazon Web Service (AWS) achieved strategic cooperation with cloud valley belonged to China Broadband Capital (CBC). AWS finally was ready to launch AWS in Chinese market.
Alipay Yu’E Bao Fund Reached 100 Billion Yuan
Tianhong Asset Management announced on November 14 2013 that Yu’E Bao fund users surpassed 30 million, fund size reached 100 billion yuan (USD 16.32 billion). It was the first Chinese money fund over 100 billion yuan, ranking 51 in the world.