Xiaomi Inc.’s web retail strategy in China has been a huge success that propelled it to be the best-selling smartphone vendor in China. Xiaomi President Lin Bin said during a recent interview with Japan’s NIKKEI that the brand expects to sell over 100 million smartphones in 2015. (more…)
Alibaba’s IPO in New York helped make many employees rich overnight and is now helping to drive Hangzhou’s luxury homes market.
Real estate signs targeting Alibaba employees can be seen from central Hangzhou to West Lake in the west of Hangzhou, where Alibaba is based, with one advertising slogan saying “For Alibaba staff that helps change the world.” Some luxury villa developers also attempted to cash in on the Alibaba executives who live there, targeting buyers who want to live next to Alibaba’s 18 founders. (more…)
Alibaba’s IPO in the United States not only helped make many businesses commercially successful, but also benefitted thousands of the Hangzhou-based Internet giant’s employees. Around 4,000 current Alibaba employees and more than 1,000 former employees own Alibaba shares, worth a total of US$1 billion. (more…)