Alibaba scored another blockbuster Singles’ Day after customers around the world shopped in stores and online on the tenth edition of its November 11 shopping festival. That puts this year’s gross merchandise volume – a measure for the dollar value of total transactions – at a staggering $30.8 billion, although the company recorded its lowest-ever […]
View More Alibaba sets new Singles’ Day record with $31B in sales, but growth is slowingCategory: daniel zhang
Alibaba goes big on Russia with joint venture focused on gaming, shopping and more
Alibaba is doubling down on Russia after the Chinese e-commerce giant launched a joint venture with one of the country’s leading internet companies. Russia is said to have over 70 million internet users, around half of its population, with countless more attracted from Russian-speaking neighboring countries. The numbers are projected to rise as, like in […]
View More Alibaba goes big on Russia with joint venture focused on gaming, shopping and moreAlibaba announces CEO Daniel Zhang will succeed Jack Ma as chairman next year
Following speculation about Jack Ma’s imminent retirement, Alibaba Group announced today that its CEO, Daniel Zhang, will succeed Ma as chairman next year. After stepping down as chairman on September 10, 2019 (exactly a year from now), Ma will continue serving as a board member until its annual general shareholders’ meeting in 2020. After that, […]
View More Alibaba announces CEO Daniel Zhang will succeed Jack Ma as chairman next yearJack Ma says he isn’t about to retire from Alibaba but is planning a gradual succession
Reports of Jack Ma’s impending retirement are greatly exaggerated, it seems. Ma, the co-founder and executive chairman of Alibaba, has pushed back on claims that he is on the cusp of leaving the $420 billion Chinese e-commerce firm. The New York Times first reported that the entrepreneur plans to announce that he will leave the firm to pursue […]
View More Jack Ma says he isn’t about to retire from Alibaba but is planning a gradual successionAlibaba beats forecasts with 61% growth and predicts more of the same for the next year
Alibaba is forecasting yet more growth for its business after it beat analyst forecasts with its fourth-quarter results. Revenue came in at 61.9 billion RMB ($9.9 billion), an increase of 61 percent year-over-year, which topped a 59.6 billion RMB prediction from analysts polled by S&P Global Market Intelligence. The company’s net income for the quarter did […]
View More Alibaba beats forecasts with 61% growth and predicts more of the same for the next year