A big selling point of ordering food to the doorstep in China is price, which, in the early years, could be much cheaper than eating in-house. That’s arguably indulged a demographic of lazy, indoorsy eaters, but that may not last for much longer. Over the past few months, users in China have noticed incremental price […]
View More Food delivered to the doorstep is not so cheap in China anymoreCategory: alibaba
Sea is raising up to $1.5B for its Shopee e-commerce business in Southeast Asia
Alibaba is about to get a jolt from its largest rival in Southeast Asia. Sea, the Nasdaq-listed business, is raising as much as $1.5 billion from a new share offering that’s sure to be funneled into its Shopee e-commerce business. Singapore-based Sea said in a filing that it plans to offer 60 million American Depositary […]
View More Sea is raising up to $1.5B for its Shopee e-commerce business in Southeast AsiaThis $550M fund is bringing green tech from the West to China, despite trade tensions
Escalating trade frictions between the U.S. and China have a range of businesses and investors in both countries sweating, but some believe there remains a bright spot where the antagonists can find common ground — fighting environmental issues. One of them is the U.S.-China Green Fund, which does exactly as the name suggests — financing […]
View More This $550M fund is bringing green tech from the West to China, despite trade tensionsTiger Global and Ant Financial lead $500M investment in China’s shared housing startup Danke
A Chinese startup that’s taking a dorm-like approach to urban housing just raised $500 million as its valuation jumped over $2 billion. Danke Apartment, whose name means “eggshell” in Chinese, closed the Series C round led by returning investor Tiger Global Management and newcomer Ant Financial, Alibaba’s e-payment and financial affiliate controlled by Jack Ma. […]
View More Tiger Global and Ant Financial lead $500M investment in China’s shared housing startup DankeJD.com shares take off despite slowing revenue growth
Shares of JD.com, the Chinese e-commerce service that rivals Alibaba, are on the rise today after the online retailer announced better than expected results for Q4 2018, bucking uncertainty around tech companies in China. The company reported net revenue of RMB 134.8 billion ($219.6 billion) for the final quarter of last year. Despite representing the […]
View More JD.com shares take off despite slowing revenue growthNetEase is the latest Chinese tech giant to lay off a big chunk of its staff
NetEase, China’s second-biggest online games publisher with a growing ecommerce segment, is laying off a significant number of its employees, adding to a list of Chinese tech giants that have shed staff following the Lunar New Year. A NetEase employee who was recently let go confirmed with TechCrunch that the company had fired a large […]
View More NetEase is the latest Chinese tech giant to lay off a big chunk of its staffAlibaba challenger Pinduoduo is bringing imported goods to rural homes
Pinduoduo, the latest challenger to China’s ecommerce dominators Alibaba and JD.com, wants to bring affordable, imported items to shoppers in China’s smaller cities and rural areas. The three-year-old Tencent-backed ecommerce upstart is recruiting importers to set up shop on its marketplace, shows a message on its website. The business is known for offering cheap, sometimes […]
View More Alibaba challenger Pinduoduo is bringing imported goods to rural homesApple is offering interest-free financing to boost iPhone sales in China
Apple is looking to get over its sales woes in China but offering prospective customers interest-free financing with a little help from Alibaba. Apple’s China website now offers financing packages for iPhones that include zero percent interest packages provided in association with several banks and Huabei, a consumer credit company operated by Alibaba’s Ant Financial […]
View More Apple is offering interest-free financing to boost iPhone sales in ChinaChina wants its rural villages to go cashless by 2020
Residents of even the tiniest far-flung villages in China may soon be able to pay on their phones to run daily errands as Beijing announced this month that it aims to make mobile payments ubiquitous in rural areas by the end of 2020. The plan arrived in a set of guidelines (document link in Chinese) […]
View More China wants its rural villages to go cashless by 2020Alibaba hits the gas on mobility as its bike sharing service adds carpooling
Carpooling is heralded to be environmentally friendly and money-saving, but in smog-stricken China, the transportation option became a source of public concerns after two female passengers got murdered during their lifts with Didi Chuxing drivers. The ride-hailing app has suspended its Hitch service to this date under government command, and its peers were also directed […]
View More Alibaba hits the gas on mobility as its bike sharing service adds carpoolingAmazon is reportedly merging its China import unit with NetEase
You’d be forgiven for not knowing Amazon has operated in China for more than a decade, but perhaps not for much longer. The company is reportedly in talks to merge its China-based import business with local peer Kaola, the cross-border shopping platform run by Chinese internet behemoth NetEase, Caijing reported (link in Chinese) on Tuesday. The deal, […]
View More Amazon is reportedly merging its China import unit with NetEaseAlibaba takes an 8% stake in Tencent-backed anime streaming site Bilibili
Ecommerce giant Alibaba is continuing its push into the world of youth culture after it scooped up an 8 percent stake in anime streaming and game publishing company Bilibili. According to a securities filing on Thursday, Alibaba’s Taobao marketplace has acquired about 24 million shares in Bilibili, the Shanghai-based firm that has captured 93 million monthly users […]
View More Alibaba takes an 8% stake in Tencent-backed anime streaming site Bilibili