Alibaba

Companies that spent billions on M&A now selling at knockdown prices

Alibaba Group Holding Ltd. announced Tuesday it's going to sell Chinese department-store chain Intime to a local apparel group for $1 billion. The price is around 30% of the company's valuation

Alibaba to sell intime department stores for $1 billion amid restructuring

The deal comes as Alibaba looks to shift focus from its dominance in China's retail sector to its core e-commerce and cloud operations

Alibaba Group combines e-commerce arms to tackle growing competition

Alibaba split into six business units in 2023, in the biggest revamp of its 24-year history

China's Alibaba Group raises $5 billion in dual currency bond deal

The deal is the first time the company has tapped the dollar bond market since 2021, according to data compiled by LSEG, and also the largest corporate bond in Asia Pacific this year

Alibaba plans to raise $5 billion through dual currency bond issuance

The current dollar tranche would consist of a 5.5-year, 10.5-year and 30-year dollar bond, a term sheet seen by Reuters showed. Alibaba is also working on a 3.5-year, 5-year, 10-year and 20-year

Alibaba misses quarterly revenue estimates, cloud revenue rises 7%

Its U.S.-listed shares were up 3.3% in pre-market trading, however, as it reported an adjusted profit of 15.06 yuan per American Depository Share, beating estimates of 14.88 yuan

China's market regulator says Alibaba completed 3-yr 'rectification' period

In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms

China to impose six-month business ban on PwC over its Evergrande audit

PwC's China unit has already lost at least two-thirds of its accounting revenues from mainland-listed clients this year since its Evergrande audit failure

Will be tough for Alibaba, Tencent, JD.com to grow without Beijing's help

Chinese tech firms may look to invest heavily in artificial intelligence, despite unique challenges

China's e-commerce giant Alibaba group misses Q1 revenue estimates

Alibaba is also grappling with stiff competition from rivals including JD.com and discount-focused retail platforms such as PDD Holdings' Pinduoduo and ByteDance-owned Douyin

Chinese billionaire criminal secretly profited off Jack Ma's deals

Xiao Jianhua was languishing in detention on bribery and corruption charges - a larger-than-life target of a government crackdown on graft

Former Alibaba India head, 9Unicorn partner launch Rs 1,000 cr fund

Former head of investments at Alibaba Group's India business Raghav Bahl and 9Unicorns ex-partner Soham Avlani on Thursday announced the launch of PROMAFT Partners -- a Rs 1,000-crore venture capital fund. The sector-agnostic fund seeks to invest in companies that have proven exceptional 'product-market-fit'. It plans to make 10-12 investments, with two-three investments in a year. "Growing without product-market-fit is like driving fast in the wrong direction. And product-market-fit without sustainable competitive advantage doesn't create shareholder value. We encourage our entrepreneurs to grow slowly, while investing in the core fundamentals of the business. "We plan to make two-three investments per year. We are backed by prudent investors, which gives our entrepreneurs the advantage to build for the long term," Bahl said. The fund is also backed by Indian family offices and market leaders like Paytm, Zomato, Browserstack, Livspace, PharmEasy, and VideoVerse who will also ...

From terrible bosses to boring jobs: Chinese youth 'sell' work woes online

A recent search found over 500 posts selling 'annoying jobs', 'terrible bosses', and 'hated colleagues', with prices from 2 yuan (Rs 22) to 80,000 yuan (Rs 918,277)

JD.com among possible bidders for British parcel company Evri: Report

JD.com is through to the second stage of bidding after submitting a non-binding offer last month, the people said

AliExpress recruits Beckham as ambassador to 'score more' global sales

Earlier this year, AliExpress also signed on as a sponsor of the UEFA Euro 2024 tournament, which starts in June, where it will invest millions of dollars in discounts

LVMH deepens partnership with Alibaba to enhance tech presence in China

The partnership also illustrates the growing focus of the high end luxury brands on improving online shopping

Chinese tech giants cut prices of language models used to power AI chatbots

It was quickly followed by Baidu, which hours later announced that its Ernie Speed and Ernie Lite models would be free for all business users

Alibaba Q4 results: Profit declines by 86%, beats revenue estimates

Consumers in China have been spending carefully after the Covid-19 pandemic amid an economic slowdown and property slump

Emerging from seclusion, Jack Ma voices support for overhaul at Alibaba

Ma, who's still revered by many of the company's 200,000-plus employees, struck a markedly more upbeat tone than just four months ago

Alibaba offers to buy Cainiao stake for up to $3.75 bn as it drops IPO plan

In the Chinese e-commerce giant's latest u-turn of its restructuring plan, Alibaba, which holds a stake of around 64% in Cainiao, said it was offering to acquire the remaining stock