NewsRoom Articles - Page 11 of 23

TuesdayMar 26, 2024 10:00 am

Alibaba to Further Reduce Holdings in Xpeng Motors

Chinese technology giant Alibaba Group Holding Limited (NYSE: BABA) has reduced its stake in XPeng Motors for the third time in several months. The multinational submitted a filing to the U.S. Securities and Exchange Commission (SEC) disclosing the sale of 33 million XPeng American Depository Shares (ADS) worth around $317 million through its subsidiary Taobao China Holding Limited. Alibaba’s filing indicated it was selling XPeng ADS acquired in September 2019 as pre-IPO investments. XPeng had its U.S. initial public offering nearly a year later in August 2020 and raised $1.5 billion. CEO He Xiaopeng said the company would use the…

ThursdayMar 21, 2024 10:00 am

How Online Dating Is Changing Partner Selection

A new sociology study from the University of British Columbia (UBC) has revealed that online dating websites, chatrooms and apps have had a notable influence on how Canadians choose romantic partners. Researchers from UBC examined how heterosexual Canadians met and selected their partners based on age, nativity, education and race. The study found that the increase in online dating has led to people choosing partners outside of their typical dating pools and resulted in relationships between individuals of different immigrant status such as Canadian-born individuals and immigrant Canadians or different education levels. Researchers also noted that participating in online dating…

TuesdayMar 19, 2024 10:15 am

Alibaba to Inject $640M into Hong Kong Entertainment Industry

Chinese e-commerce giant Alibaba Group Holding Ltd. (NYSE: BABA) has announced plans to invest more than half a billion dollars into the Hong Kong entertainment industry through its media arm. Businesses in the company’s Digital Media and Entertainment Group (DME), including Alibaba Pictures and Youku, will spend the $640 million (HK$5 billion) investment developing movies, TV dramas and events in Hong Kong on top of providing training for young Hong Kong creatives. Both Alibaba Pictures and Youku have partnered with production studios based in Hong Kong and announced new entertainment projects at a recent industry trade show. With Youku still…

ThursdayMar 14, 2024 10:15 am

Predictive Analytics Helps Merchants Anticipate User Needs in Payment Processing

Increasingly advanced financial technology has made it possible for payment processing merchants to anticipate their users’ needs. Thanks to predictive analytics that use historical data coupled with next-generation algorithms, merchants can project what their users need much more efficiently and react proactively. The ability to apply predictive analytics to payment processing is a major game changer as it allows payment merchants to move from traditionally reactive payment transactions that typically responded to user actions once they had happened. Merchants will now be able to use predictive analytics technology to offer users a more personalized and seamless experience by anticipating their…

TuesdayMar 12, 2024 10:00 am

Chinese Firms Leverage Social Media to Market Tour Packages

Analysis by Dataxet Limited has revealed a significant surge in interest in China tour packages on social media. The Thailand-based media intelligence organization used its DXT360 platform to analyze social media data from Jan. 1, 2024, to Feb. 20, 2024, and found that the net was abuzz with talk of Chinese tour packages. Dataxet Limited’s analysis highlighted an increase in conversation and engagement regarding travel in China. Furthermore, there was a notable increase in the popularity of certain hashtags across different social media platforms during the study period. The term “China tour packages” was mentioned 1,035 times and had 48,411…

ThursdayMar 07, 2024 9:45 am

Alibaba’s Cloud Computing Price Cuts Heat-Up Competition in China

With competition in the Chinese cloud-computing space heating up, Alibaba Group Holding Ltd. (NYSE: BABA) is the latest major player to announce price cuts for several of its core cloud-computing products. The company’s cloud-computing unit says it is cutting prices by up to 55% for more than 100 of its core products, the largest price cut in the company’s history. Many experts say the latest round of price cuts will reduce the cost of accessing enterprise cloud services, expanding access to the cloud market and boosting cloud development. According to company management, Alibaba’s price cuts are aimed at increasing inclusivity…

TuesdayMar 05, 2024 11:00 am

Innovations in Mobile Payments Driving In-Store, Online Sales

Developments in the mobile money space are increasing the popularity of digital wallets among customers and becoming the preferred means of payment online and in person. Statista data shows that mobile e–commerce sales accounted for 60% of global e-commerce sales at $2.2 trillion. Industry reports now predict that nearly two-thirds of smartphone users in the United States will use mobile wallet apps for their monthly transactions in 2024, up from 50% in 2021. Mobile money wallets are electronic wallet services that allow users to store, receive and send funds using mobile phones. Mobile money services are available on basic feature…

ThursdayFeb 29, 2024 10:00 am

Report Shows Social Media Was Leading Marketing Tool for Multinationals in China

A recent report from Chinese social-media-management platform KAWO has revealed that multinationals in China overwhelmingly use social media as a marketing tool. After surveying 50 international business-to-business multinational corporations (MNCs) in the country, KAWO found that social media is a top marketing tool for MNCs in 20 different sectors. According to the B2B Social Media Marketing Research Report, 94% of international business-to-business MNCs based in China pointed to social media as a major channel for marketing. In addition, 70% said they plan to increase their social media marketing budgets this year. Furthermore, 86% and 66% of the respondents identified offline…

TuesdayFeb 27, 2024 10:00 am

As Domestic Sales Slow, Alibaba Looks to Overseas Unit to Bolster Growth

Alibaba Group Holding Ltd. (NYSE: BABA) has revealed that it will focus its attention on its overseas business to bolster company performance amid sluggish domestic consumption growth. The company has experienced rising year-over-year losses in recent years, partly due to poor economic conditions in the domestic market. China’s economy struggled to recover to pre-COVID levels after Beijing lifted coronavirus restrictions, leaving many critical sectors such as real estate in trouble. Several experts say the economic situation in the country is at a historic low. According to China Market Research Group founder Shaun Rein, China is currently experiencing record-low levels of…

ThursdayFeb 22, 2024 10:00 am

E-Commerce to Hit $3.6B Valuation Globally in 2024

Data from AltIndex.com has revealed that the global e-commerce industry’s valuation will increase by 15.6% to reach $3.64 trillion in 2024. This represents one of the most impressive growth rates across all industries and demonstrates e-commerce’s vitality in the face of inflation, changing consumer behavior and costly digital advertising expenses. The global e-commerce sector has seen its revenue jump by 108% over the past five years from $1.52 trillion in 2018 to a whopping $3.15 trillion last year. Although e-commerce was already a major form of trade as the 2010s drew to a close, the coronavirus pandemic kicked the sector…

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