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Alibaba to Raise $1.5B Cultural, Entertainment Investment Fund

Nov 01, 2016 12:24 AM EDT

Alibaba Group Holding announced on Monday its plan to raise 10 billion yuan ($1.5 billion) to target China's cultural and entertainment industries and establish a separate cultural and entertainment group.

Alibaba's investment will be used to help PlaceIQ in expanding and improving its operations globally.

Alibaba Puts Strategic Investment on PlaceIQ

Ellie Froilan |

Oct 14, 2016 08:14 AM EDT

Alibaba has made a strategic minority investment to PlaceIQ, which is a follow-on addition to $25 million PlaceIQ’s 2016 Series D funding round.

Alibaba to Orbit World's First e-commerce Satellite; Might Also Launch Other Satellites

Arthur Dominic Villasanta |

Sep 24, 2016 07:26 PM EDT

Juhuasuan said its e-commerce satellites will enable it to provide consumers with the world's best vegetables.

Ant Financial is Planning to Make Initial Public Offering in Hong Kong in 2017: Report

Girish Shetti |

Aug 26, 2016 01:25 PM EDT

Ant Financial, Alibaba Group's financial subsidiary company, is reportedly planing to make an initial public offering (IPO) in the Hong Kong stock exchange in the first half of next year.

Alibaba Pictures Acquires Hangzhou Xingji.

Alibaba Pictures to Acquire 80 Percent Stake in Hangzhou Xingji for $15 Million

Girish Shetti |

Aug 25, 2016 01:01 PM EDT

Alibaba Pictures, the entertainment division of Chinese e-commerce giant Alibaba Group, would invest 100 million Yuan (US$15 million) to secure an 80 percent stake in Hangzhou Cinema Company. The move would help Alibaba Pictures to further expand its reach in China's lucrative entertainment market.

Alibaba’s Annual Sales Crosses 3 Trillion Yuan

Girish Shetti |

Mar 23, 2016 11:59 AM EDT

China's e-commerce giant Alibaba Group announced on Monday that it has achieved a major milestone as its Gross Merchandise Value (GMV) for the current fiscal year crossed ¥3 trillion ($462 billion) mark.

Alibaba Group signage is posted outside the New York Stock Exchange

China's Alibaba Buys 33 Million Shares of Groupon

Alexis Villarias |

Feb 15, 2016 03:30 PM EST

China's Alibaba has bought a 5.6 percent stake in Groupon, making it the fourth largest shareholder in the online deal site. Groupon shares are still down 61 percent over the last 12 months, despite a 29 percent increase last week Friday.

National Museum of China ventures the online market

National Museum of China Opens Online Shop

Charissa Echavez |

Jan 20, 2016 09:40 AM EST

China's National Museum is combining technology and tradition as it launched its online shop on Monday to widen its market for cultural products.

China will soon rate citizens based on their 'social status'

What Kind of Citizen Are You? China Soon to Rate Netizens with 'Social Credits'

Charissa Echavez |

Nov 23, 2015 05:37 AM EST

What kind of citizen are you? In China, authorities are on the verge of creating an electronic database that would allow people to rate their fellow 1.3 billion netizens based on certain parameters.

Alibaba Breaks Record for Single Day Sales, Topping $11 Billion Estimate

Elena Garcia |

Nov 13, 2015 08:52 AM EST

Chinese e-commerce company Alibaba recorded $14.3 billion in sales on Singles Day this past Wednesday; breaking its record last year during the same time and going past its estimates of $11 billion worth of sales.

Alibaba Signs Deal to Develop Smart Cities in China

Michael A. Katz |

Apr 22, 2015 04:00 PM EDT

Chinese e-commerce giant Alibaba Group has signed a deal with the Beijing municipal government to jointly develop so-called "smart city" initiatives to move public services online.

Alibaba Shows off 'Pay with a Smile' Technology at the CeBIT 2015

Sami Ghanmi |

Mar 17, 2015 11:46 AM EDT

Users of the new payment system will have the ability to purchase items online by scanning their faces for secure transactions.

China’s Two Leading Taxi App Firms Agree to Merge

Sami Ghanmi |

Feb 14, 2015 08:46 AM EST

Didi Dache and Kuaidi Dache are used by 95 percent of Chinese taxi hailing app users.

Alibaba to Launch Mobile Messaging App for Businesses

Michael A. Katz |

Jan 16, 2015 03:53 PM EST

Chinese ecommerce giant Alibaba Group is currently testing DingTalk, a mobile messaging application that combines social networking with business.

Jack Ma: Asia’s Richest Man

Phenny Lyn de Vera |

Dec 12, 2014 02:48 AM EST

Chinese entrepreneur and philanthropist Jack Ma has been recently by Bloomberg Billionaires Index to be the Asia’s richest man. Ma who is founder and executive chairman of China’s Alibaba Group has surpassed Hong Kong property tycoon Li Ka-shing in terms of net worth. Li has been holding the top spot since April 2012.

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