Alibaba buys food delivery platform Ele.me

Alibaba announced today that it will acquire all outstanding shares that it does not already own in food delivery platform Ele.me. The transaction implies the enterprise value of Ele.me at US$9.5 billion. Alibaba and its financial arm Ant Financial are already the largest shareholder in the company with approximately 43% shares. Rumors of Alibaba’s acquisition … More Alibaba buys food delivery platform Ele.me

Tmall, Shanghai Fashion Week in New Retail Tie-Up

Tmall has partnered with Shanghai Fashion Week to help one of the industry’s most influential events in China up its digital game. Per the agreement, the Alibaba Group-owned B2C shopping site will bring New Retail technology to Shanghai Fashion Week, enhancing the attendee experience and delivering valuable consumer insights to organizers, buyers and designers over … More Tmall, Shanghai Fashion Week in New Retail Tie-Up

Alibaba’s Mapping Unit AutoNavi Declares War On Didi Via Launch Of Carpooling Business

Alibaba’s mapping unit, AutoNavi Holdings Ltd. that is also known as Gaode Map, has launched its own carpooling business, starting in Chengdu and Wuhan city initially with plans to roll out nationally. In a move that declares war to existing ride-sharing leader Didi Chuxing, AutoNavi’s expansion into the shared mobility space further complicates a sector … More Alibaba’s Mapping Unit AutoNavi Declares War On Didi Via Launch Of Carpooling Business

Alibaba Invests a Further US$2 Billion in Lazada to Accelerate Region’s E-Commerce

Aibaba Group said Monday it will inject a further $2 billion into Southeast Asian online shopping giant Lazada as part of the group’s ongoing effort to accelerate the region’s e-commerce development. The latest move will deepen Lazada’s integration into the Alibaba ecosystem and brings Alibaba’s total investment in the e-commerce platform to $4 billion. In … More Alibaba Invests a Further US$2 Billion in Lazada to Accelerate Region’s E-Commerce

Tencent, Alibaba Set Sights on Self-Driving With Demo Facility in Guangdong

Some of China’s leading tech firms are working with the Guangdong Provincial Economic & Information Commission to test autonomous vehicles at a demo facility for Guangzhou Automobile Group Co.. Tencent Holdings Ltd., Alibaba Group Holding Ltd., and Huawei Technologies Co. are among the list of firms involved in the project, regional news outlet Nanfang Media … More Tencent, Alibaba Set Sights on Self-Driving With Demo Facility in Guangdong

Ant Financial announces RMB 500 million in ecological investment in 2018

To celebrate National Tree Planting Day (植树节) on March 12, Ant Financial CEO Jing Xiandong said on March 11 that Ant Forest will invest RMB 500 million ($79 million) in ecological protection by the end of 2018, Chinese media TechWeb is reporting. At present, there are more than 300 million Ant Forest users. If more … More Ant Financial announces RMB 500 million in ecological investment in 2018

Renault, Alibaba Deepen Partnership for Connectivity, New Retail

Groupe Renault is expanding its partnership with Alibaba Group beyond branding to collaborate on connectivity solutions, business model innovation and enhanced operations via New Retail, the French manufacturer said on Wednesday. As part of the automaker’s 120th anniversary celebration in Shanghai, Alibaba, Groupe Renault and Dongfeng Renault—a joint venture between car manufacturers Dongfeng Motor Group … More Renault, Alibaba Deepen Partnership for Connectivity, New Retail

China Gives Green Light to First Government-Led Personal Credit Scoring Firm

China’s central bank, the People’s Bank of China, has officially issued the first domestic personal credit scoring license to the state-led Baihang Credit Scoring Co. which partnered with domestic major credit scoring institutions backed by such internet giants as Alibaba Group Holding Ltd., Tencent Holdings Ltd. and NetEase Inc. The new platform will mainly provide … More China Gives Green Light to First Government-Led Personal Credit Scoring Firm

How Alibaba’s ‘new retail’ is changing the future of retail in China and the world

At Alibaba’s 2016 Computing Conference, Jack Ma focused his speech on five areas that are being transformed by technology. The list included new finance, new manufacturing, new technology and new energy with new retail at the center. Alibaba wants to use data and technology to transform retail, including offline retail, which accounts for 82% of … More How Alibaba’s ‘new retail’ is changing the future of retail in China and the world

Nestle, Cainiao Unveils New Inventory Solution Designed For New Retail

Swiss food group Nestle has teamed up with Alibaba’s Cainiao Network to streamline its e-commerce supply chain in China. The two are designing a new all-in-one inventory solution that integrates Nestle’s warehouse stock across Alibaba’s platforms into an analytics-driven, shared inventory. With real-world experiences increasingly linked to the web, forward-thinking companies across the world are … More Nestle, Cainiao Unveils New Inventory Solution Designed For New Retail