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Latest BABA News From Around the Web
Below are the latest news stories about Alibaba Group Holding Ltd that investors may wish to consider to help them evaluate BABA as an investment opportunity.
Written by Nick Ackerman, co-produced by Stanford Chemist Continuing with our coverage of BlackRock funds, as we had done with Eaton Vance's funds, we will be focusing on BlackRock's sector-focused funds. In today's piece, we will be looking at the healthcare and tech names offered by BlackRock. These are probably...
Chinese e-commerce giant Alibaba Group Holding Ltd has fired Zhao Yan, the head of its fast-growing livestreaming division, on grounds of nepotism and accepting gifts, according to an internal memo announcing his termination, seen by Reuters. The undated document, produced by Alibaba's human resources department and published on June 29 on the company's internal intranet for staff, says Zhao was fired after he used his position to help third-party livestreamers score favourable positioning on Taobao Live, Alibaba's main platform for live-streamed e-commerce.
(Bloomberg) -- Colin Huang’s ascent is one for the history books: In just six months, his fortune swelled by $25 billion -- one of the biggest gains among the world’s richest people.His Pinduoduo Inc., a Groupon-like shopping app he founded in 2015, has become China’s third-largest e-commerce platform, with a market value of more than $100 billion. In the first quarter, as the coronavirus pandemic caused most of the nation’s economy to grind to a halt, PDD’s active users surged 68% and revenue jumped 44%, the company said in May.Now Huang, who has overseen the firm as its American depositary receipts have more than quadrupled in less than two years, has stepped down as chief executive officer.At one point, his net worth climbed as high as $45 billion, placing him just behind China’s wea...
Coronavirus update: U.S. case tally climbs above 2.6 million, and top Republicans now call on Americans to wear face masks
The number of confirmed cases of the coronavirus illness COVID-19 in the U.S. climbed above 2.6 million on Wednesday, a day after Dr. Anthony Fauci said it could spike to more than 100,000 a day if the fresh clusters emerging in the South and West are not brought under control.
Alibaba Cloud and Unilever pioneer a strategic initiative that will enable Unilever to action on next-generation digital marketing campaigns
Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, said today it has supported 38 percent of the Fortune 500 companies over the past fiscal year.
(Bloomberg) -- China’s tycoons are flooding Hong Kong’s exchange with $20 billion worth of new listings.While the city’s rich are preparing for a worst-case scenario amid a controversial national-security law, major mainland billionaires are coming in. The latest to do so: William Ding of NetEase Inc. and JD.com Inc.’s Richard Liu, whose companies completed secondary listings there last month. They follow Jack Ma, whose Alibaba Group Holding Ltd. stock issuance in November was the city’s largest since 2010.Together, the three moguls’ firms have raised $20 billion from share sales in the former British colony, and that may be just the start of a new wave of listings by mainlanders.“Chinese billionaires’ tech companies are helping the capital market in Hong Kong for a pivotal change and s...
(Bloomberg) -- Colin Huang stepped down as chief executive officer of Pinduoduo Inc. after building the five-year-old startup into a force in China’s e-commerce industry and, in the process, becoming one of the country’s richest people.He’s turning the role over to Lei Chen, another founder at the Shanghai-based company, effective immediately, PDD said in a letter to employees posted on its website. Huang, 40, will remain chairman.“I hope that through the management changes, we can gradually hand over more managerial duties and responsibilities to our younger colleagues, give space and opportunities for the team to grow, and drive Pinduoduo to become a more mature company with continuous entrepreneurial spirit,” Huang wrote in the letter.While tech founders often eventually cede managem...
Beyond Meat (NASDAQ:BYND) wants to expand in the Chinese market. The company will offer Beyond Burgers in Alibaba’s (NYSE:BABA) Freshippo stores.
Beyond Meat will sell its plant-based patties in grocery stores in China for the first time, in collaboration with Chinese tech giant Alibaba. The company's meat-alternative products will be rolled out in 50 Freshippo stores across Shanghai from July 4 onwards. Freshippo is known as Hema in China. This is not the burger-maker's first foray into China. Earlier this year, it partnered with Starbucks and Yum Brands' subsidiaries for regional distribution. Visit Business Insider's homepage for more stories . US plant-based burger company Beyond Meat is preparing to debut in Chinese grocery stores after signing a partnership with tech giant Alibaba. The burger-maker will sell its meat-alternative patties across 50 Alibaba-owned Freshippo stores in Shanghai from July 4. Freshippo is called He...