The campaign called “10 billion yuan of subsidies” – a typical mainland marketing phrase used to tout large online allotments – will be given to an initial batch of 1,000 Chinese brands and merchants, including those who have already opened a store on Alibaba’s domestic retail platform Tmall, according to an AliExpress statement on Monday. … Read more
By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory scrutiny and fierce competition from old and new rivals. The … Read more
Alibaba Group Holding has fundamentally changed its corporate culture to put customers first in its adaptation of technology, its co-founder Jack Ma wrote, as he stepped into a social media hubbub over the hubris that caused what was once the world’s largest e-commerce platform to lose ground to competitors. “We hacked away at the big-company … Read more
Alibaba Group Holding’s cloud computing unit has slashed prices for international customers by up to 59 per cent, as the tech giant fights to woo users amid a global race for computing resources driven by rapid artificial intelligence (AI) development. The international cloud business of Alibaba, which owns the South China Morning Post, is facing … Read more
“China is somewhat behind, obviously,” Tsai said, citing how ChatGPT creator OpenAI has leapfrogged the rest of the tech industry in AI innovation, in a podcast interview published on Wednesday with Nicolai Tangen, chief executive of Norges Bank Investment Management – the branch of Norway’s central bank that is responsible for managing the world’s largest … Read more
Hangzhou-based Cainiao will launch an “entrepreneurship incentive plan” that will double the bonus pool allocated for the financial year ending March 31, 2025, according to company chief executive Wan Lin in excerpts from an internal letter seen by the South China Morning Post. That means employees will receive their standard year-end bonus in April 2025 … Read more
Alibaba Group Holding’s cloud computing unit has cut prices by up to 55 per cent on more than 100 core products – the largest discount offering in the company’s history – to attract more enterprises and software developers as users in mainland China, as the adoption of artificial intelligence (AI) picks up steam across various … Read more
Alibaba Group Holding is set for a comeback after several years of rising competition and macroeconomic pressures, according to the company’s co-founder and chairman Joe Tsai, who is backing the Chinese e-commerce giant to bounce back. Alibaba is “a lot more confident” about its position as one of China’s top e-commerce players as it undergoes … Read more
Alibaba Group Holding is reshuffling the top ranks of its most important profit earner since its sweeping restructuring started over half a year ago, as it tries to regroup after its value fell behind rival PDD Holdings. Eddie Wu Yongming, chairman of Alibaba’s Taobao and Tmall Group (TTG), will become the chief executive of the … Read more
