Alibaba Acquires Food Delivery Service Ele.me for $9.5 Billion

Alibaba is set to gain full control of Ele.me as it revs up on its plan to have a stronger foothold in China’s burgeoning market for quick delivery services. A statement released by Alibaba hinted of an enterprise valuation for…

Alibaba Invests Additional $2 Billion in Lazada, Seeks to Dominate SE Asia eCommerce Market

Chinese eCommerce giant Alibaba announced Monday that it would be investing an extra $2 billion in Lazada as part of the company’s continued expansion in Southeast Asia. Alibaba gained control of the Singapore-based company way back in 2016 with an…

Alibaba CEO Jack Ma Makes Multi-Million Dollar Investment in ‘Rent the Runway’ Fashion Business

It seems that Chinese billionaire investor Jack Ma is planning to expand his business interests to include women’s fashion. Mr. Ma and his Alibaba co-founder Joseph Tsai, are now eyeing a stake in Rent the Runway, a New York-based designer…

Yahoo Reverses Spinoff To Sell Core Business And Keep Alibaba Stake

After a report from CNBC came out saying that Yahoo will halt its spinoff of its stake in Alibaba and explore a potential deal for its core business, Yahoo put out an official announcement. It says the board of directors…

Report: Yahoo Won’t Move Forward With Alibaba Spinoff

Over the first week+ of December, there have been numerous rumors about Yahoo. It has been reported (but not officially confirmed) that the company is considering selling its core web business, including search and advertising. This was the big story…

Yahoo To Discuss Selling Web Business This Week [Report]

The Wall Street Journal reported late on Tuesday that Yahoo has meetings on Wednesday through Friday to discuss the possibility of selling its internet businesses and getting more out of its stake in Alibaba Group Holding. According to this report,…

Alibaba Buys ‘China’s YouTube’ for $3.7 Billion

Alibaba has announced that it has acquired Youku Tudou for around $3.7 billion. Youku Tudou is commonly referred to as “China’s YouTube”. E-commerce giant Alibaba had previously offered a little less to purchase the company last October. Alibaba already owned…

Alibaba Group Earnings Impress, Revenue Jumps 32%

Alibaba Group reported its financial results for the quarter ended September 30 on Tuesday, beating Wall Street expectations as its revenue jumped 32% to $3.5 billion. EPS was $0.57. Gross merchandise volume (GMV), which refers to the total sales value…

Alibaba Group’s Cloud Business Expands With New Data Center

Aliyun, the cloud computing arm of Alibaba Group, announced that it will set up a new cloud data center in Singapore, where the company will also base the headquarters for its overseas business. The center will launch next month. The…

Alibaba Is Starting A Netflix-Like Service Called TBO

Chinese ecommerce giant Alibaba Grouip is getting into online streaming video, readying a Netflix-type service in the country, according to multiple reports. The news comes as Netflix is trying to figure out its own entry into China. Alibaba’s head of…