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Alibaba Cloud to Open Data Centers in India and Indonesia

12 Jun

Alibaba Cloud, the cloud computing arm of Alibaba Group, announced today at its Computing Conference in Shanghai that it plans to establish two new data centers in Mumbai, India and Jakarta, Indonesia, and currently anticipates opening the two new IDCs during the current fiscal year, ending on March 31, 2018.

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Alibaba Pictures picks majority stake in Chennai-based ticketing platform TicketNew

7 Jun

By Anmol Sachdeva, The Tech Portal

Falling in line with previous reports, Alibaba Group’s entertainment arm, Alibaba Pictures, has today announced that it has bought a majority stake in Chennai-headquartered digital ticketing platform TicketNew. The transaction marks Alibaba’s first step into the burgeoning entertainment market of India, in partnership with the second largest online ticketing platform. The financial details of the transaction have been kept under wraps. (more…)

Nikhil Vora sells his full 0.35% stake in One97 Communications to Alibaba for ₹150 crores

18 May

By Ashvita Anand, The Tech Portal

Former IDFC Securities star equity analyst Nikhil Vora has sold his entire stake in One97 Communications to Chinese e-commerce giant Alibaba earning ₹150 crore from his six year old investment. (more…)

The War for Supremacy in the Indian e-Commerce Space Could be Fought between Amazon and Alibaba

9 Mar

By Mudit Mohilay, The Tech Portal

India is a great place. And it’s advantages are even more apparent when you are an e-commerce behemoth looking to grow your presence. Which is why the country is host to a whole bunch of e-commerce companies battling it out with each other for supremacy. Well, as per a recent report, the final battle shall be fought out between Amazon and Alibaba. (more…)

Alibaba Posts a Whopping 54 Percent Uptick in Q3 Revenue, Adjusts Fiscal Revenue Guidance for 2017

26 Jan

By Anmol Sachdeva, The Tech Portal

Alibaba, the leading Chinese e-commerce behemoth, has today not only shared its third quarter earnings but also smashed analyst estimates. It might come as a major surprise for some but the company witnessed a major peak in Single’s Day sales. It also saw an uptick in their cloud and digital media ventures for this quarter. (more…)

Koubei, Alibaba’s Local Commerce Platform, Raises a Massive $1.1 Billion in Funding

26 Jan

By Mudit Mohilay, The Tech Portal

Alibaba has been faring pretty well well of late. The company is doing a raring business and despite some setbacks like a flow of counterfeit goods to the platform, 2016 has been a pretty good year overall. Well, business has not been the only source of money for the Chinese conglomerate and funding has also brought in a fair share of money to affiliate companies. Along the same, Koubei has raised a massive $1.1 Billion in funds. (more…)

Alibaba Forms Alliance with Samsung, Louis Vuitton and Others to Combat Counterfeit Goods

19 Jan

By Aditya Srivastava, The Tech Portal

On 4th of January, Chinese e-commerce titan Alibaba sued two vendors for selling fake Swavrovski watches, and since then, they ramped up their attempts  to combat counterfeit goods. Their brand new partnership with 20 new companies is first step in the process. (more…)

Alibaba to Take China’s Intime Retail Private

11 Jan

Alibaba said Tuesday it would team up with the founder of China’s Intime Retail (Group) Co. to take the department-store operator private in a deal worth up to 19.8 billion Hong Kong dollars (US$2.6 billion). Alibaba already has a 28% stake in Intime from a US$692 million investment it made in 2014. Alibaba’s shareholding would increase to about 74% after the deal. (more…)

Alibaba Announces Proposal to Privatize Intime Retail

10 Jan

Alibaba Investment Limited (“Alibaba”), a wholly owned subsidiary of Alibaba Group Holding Limited  (“Alibaba Group”) announced today that Alibaba, together with an entity wholly-owned by Mr. Shen Guo Jun, founder of Intime Retail (Group) Company Limited (“Intime”) (together, the “Joint Offerors”), have requested the board of directors of Intime to put forward to shareholders a proposal to privatize the department store operator by way of a scheme of arrangement. (more…)

Alibaba Is Setting up Its First India Office in Mumbai, That Too Near Rival Amazon’s HQ

2 Jan

By Anmol Sachdeva, The Tech Portal

Chinese e-commerce behemoth Alibaba has been aggressively working on setting up a team to lead its India operations but lacking an office space in the country. Now the company is giving further creditability to its expansion efforts in the country with plans to set up its first office in Mumbai, reports Business Standard. (more…)