alibaba

Tencent’s latest education push is a nod to new collaborative structure

When Tencent announced it had formed a new education brand this week, the internet giant wasn’t just flexing its muscles to conquer China’s booming online education sector. The new initiat

Tencent CEO warns companies must keep innovating to survive amid US-China tensions

On Tuesday, Tencent’s usually low-profile founder and CEO Pony Ma made rare comments to weigh in on escalating tensions between the United States and China, calling domestic tech companies to bu

A young entrepreneur is building the Amazon of Bangladesh

At just 26, Waiz Rahim is supposed to be involved in the family business, having returned home in 2016 with an engineering degree from the University of Southern California. Instead, the young entrepr

China overtakes US in smart speaker market share

The U.S. no longer leads the smart speaker market, according to new data from Canalys out this morning, which found China’s smart speaker shipments grew by 500% in Q1 2019 to overtake the U.S. a

TikTok owner ByteDance’s long-awaited chat app is here

In WeChat -dominated China, there’s no shortage of challengers out there claiming to create an alternative social experience. The latest creation comes from ByteDance, the world’s most val

Alibaba invests about $635M in Red Star Macalline, one of China’s largest furniture sellers

Alibaba Group has acquired about RMB 4.36 billion ($635 million) worth of convertible bonds in Red Star Macalline, one of China’s biggest furniture retailers. If converted, this would give Alibaba a

China’s Tesla wannabe Xpeng starts ride-hailing service

There’re a lot of synergies between electric vehicles and ride-hailing. Drivers are able to save more steering an EV compared to a gas vehicle. Environmentally conscious consumers will choose to

Alibaba returns to growth with revenue up 51% to $13.9 billion

It’s business as usual for Alibaba after the Chinese e-commerce giant bounced back from a lackluster Q3 — which saw its slowest growth for three years. For Q4, the company saw revenue surg

Tencent’s mixed bag for Q1: record profit despite weakest revenue growth yet

Tencent, Asia’s largest tech firm, had a horrific 2018 on account of a country-wide freeze on new game monetization in China, but there’s evidence it has turned the corner. The company&#82

Online grocery startup Grofers lands $200M led by SoftBank’s Vision Fund

Hot on the heels of Indian delivery startup BigBasket raising $150 million — at a unicorn valuation, no less — so its close rival Grofers has also pulled in capital after it announced a $2

India’s largest mobile wallet company Paytm now offers a credit card

Paytm, India’s largest mobile wallet app, has branched out to several businesses in recent years as threat from Google and Facebook grows. On Tuesday, it added another category to the list: credit c

JD.com to foster connected vehicle fleets with $55M investment

JD.com, the Chinese answer to Amazon and Alibaba’s long-time rival, is looking to further automate its logistics network after agreeing to pour 376 million yuan (around $55 million) into Jiangsu

How the trade war with China hit Uber’s public offering

Uber’s much heralded public offering has arrived not so much with a bang as with a whimper, thanks largely to the ongoing trade war between the U.S. and China. Overnight, the U.S. government mad

Alibaba-backed facial recognition startup Megvii raises $750 million

One of China’s most ambitious artificial intelligence startups, Megvii, more commonly known for its facial recognition brand Face++, announced Wednesday that it has raised $750 million in a Seri

Grocery startup BigBasket becomes India’s newest unicorn with new $150M investment

India has a new unicorn after BigBasket, a startup that delivers groceries and perishables across the country, raised $150 million for its fight against rivals Walmart’s Flipkart, Amazon and hyperlo

Can China’s ride-hailing leader Didi repair its troubled reputation?

2018 was supposed to be another bright year for Didi Chuxing. The ride-hailing upstart had been celebrated as a success story in China’s booming sharing economy. Six years after founding, it had

Security lapse exposed a Chinese smart city surveillance system

Smart cities are designed to make life easier for their residents: better traffic management by clearing routes, making sure the public transport is running on time and having cameras keeping a watchf

Starbucks CEO says Chinese rival Luckin’s ‘heavy discount’ strategy isn’t sustainable

A war of words in the coffee world is brewing after the CEO of Starbucks claimed Chinese upstart Luckin can’t last just days after it filed for a U.S IPO. Kevin Johnson, who leads the American c

AWS wants a bigger share of Asia following Hong Kong launch

Amazon’s cloud computing unit is making further inroads into Asia after it opened a data center in Hong Kong this week, adding to the seven existing locations where it currently operates across

US slams Alibaba and its challenger Pinduoduo for selling fakes

China’s biggest e-commerce company, Alibaba, was again on the U.S. Trade Representative’s blacklist over suspected counterfeits sold on its popular Taobao marketplace that connects small m
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