alibaba.com

  • Alibaba.com Grows Revenues And Profits, Misses Expectations

    Alibaba.com Grows Revenues And Profits, Misses Expectations

    Alibaba.com, the massive B2B e-commerce company based in China, this morning published (PDF) its results for the third quarter of the year. The company reported a 11.9 percent increase (to $64 million) in its Q3 net profit, with revenues rising 10.6 percent to $250 million, year-over-year. This was below Wall Street expectations; Alibaba blamed a weak U.S. economy, a decline in manufacturing… Read More

  • Alibaba.com CEO And COO Out Because Of Vendor Fraud

    Alibaba.com CEO David Wei and COO Elvis Lee have resigned this morning after an internal probe found that more than 2000 sellers on the e-commerce site were committing fraud, in some cases to the knowledge of Alibaba staff. The Hanzhou, China-based Alibaba told the WSJ that more than 100 sales staff (out of 5,000) were allowing fraudulent suppliers to fake the business registration papers… Read More

  • Yahoo Sells $150 Million Worth Of Alibaba.com Shares As Tensions Lurk

    Yahoo is about to raise approximately $150 million by selling 57.48 million Alibaba.com shares, according to a term sheet obtained by Reuters earlier on Monday. The Internet giant is selling the large chunk of shares at HK$19.80-HK$20.30 each, which represents a 4-6.4% discount to the stock’s closing price of HK$21.15 on Monday and the entire 1.14 percent stake Yahoo held in… Read More