Baidu Inc. may be China’s most innovative tech company. That could eventually make it China’s most successful tech company, or its greatest failure.
Alibaba Group Holding Ltd. has reportedly invested RMB1.5 billion (US$227 million) in SenseTime, a Beijing-based Chinese artificial intelligence company specializing in facial and image recognition technology and its application.
Hong Kong-based online mobile lending start-up WeLab, backed by investors including Credit Suisse Group AG, local tycoon Li Ka-Shing and Alibaba Hong Kong Entrepreneurs Fund, is planning an initial public offering on the Hong Kong Stock Exchange.
When you are Jack Ma, you never think small. The founder and executive chairman of Chinese technology giant Alibaba Group Holding Ltd. says he thinks that Yunfeng Capital, the private equity fund he co-founded, will one day rival the most powerful money managers in the world.
Chinese Internet retail giant Alibaba Group Holding Limited has formed a strategic alliance with French retailer Auchan Retail S.A. and Ruentex Group to pursue new opportunities in China’s food retail sector. As part of the strategic alliance, Alibaba will invest a total of HK$22.4 billion (US$2.88 billion) to obtain an aggregate 36.16% stake in Sun Art Retail Group Ltd., a Chinese hypermarket operator listed on the Hong Kong Stock Exchange. Alibaba is buying the stake from from Ruentex, for around …
Hong Kong-based mobile lending start-up WeLab has raised a US$220 million series B+ round from Alibaba Hong Kong Entrepreneurs Fund, International Finance Corp, Credit Suisse and others.
Chinese news app Toutiao appears to be the latest Chinese media platform looking to get into financial technology. According to local news reports, the five-year-old company with a valuation estimated at US$20 billion is looking to acquire an insurance broker in China to break into the insurance business, but without having go through the time consuming process of obtaining an insurance license.
Alibaba Group Holding Ltd. has led a US$335 million series E round in Chinese used car online transaction platform Souche, with participation from Warburg Pincus, Primavera Capital and CMB International. This round takes place less than 12 months after the a US$100 million series C round completed in November 2016 led by Ant Financial, and less than 6 months after a US$180 million series D round completed in April 2017 led by Warburg Pincus. After this round of financing, Alibaba …
China’s Qudian Inc., a provider of online consumer credit products backed by Ant Financial, has completed a listing on the New York Stock Exchange, raising approximately US$900 million.
Singapore’s Temasek Holdings has led a US$502 million series D round in Magic Leap Inc., a U.S.-based augmented reality start-up.
In a bid to establish itself as a leading player in global technology innovation, Chinese Internet giant Alibaba Group Holding Ltd., today announced plans to spend up to US$15 billion on research and development, establish seven research labs and recruit 100 top scientist worldwide over a three-year period.
Alibaba is becoming a serious player in the online gaming sector. The technology giant founded by Jack Ma today announced that it has acquired online gaming company Ejoy and revealed plans to establish for the first time a dedicated gaming unit to expand into the lucrative sector.
Chinese Internet giant Alibaba Group Holding Ltd. has agreed to make an additional investment of RMB5.3 billion (US$807 million) to increase its ownership of Cainiao Network and to become a controlling shareholder of its logistics services affiliate.
Alibaba has taken another step in its quest to become ubiquitous in the daily life of every Chinese consumer, this time taking a page out of the play book of international retail giant Ikea. Three days ago, Alibaba opened a bright, colorful, all inclusive home furnishing flagship store in Hangzhou that looks and feels very much like an IKEA store, but is fully augmented by Alibaba’s online e-commence technology.
Chinese logistics services provider Best Inc., backed by Chinese Internet giant Alibaba Group Holding Ltd., has cut its New York Stock Exchange IPO by half due to tepid investor demand.
Following the just released iPhone X’s cool face ID feature, Ant Financial Services Group said it is allowing customers to use face scan to unlock and pick up packages at smart courier cabinets in Shanghai.
SoftBank Vision Fund, a US$93 billion investment fund backed by SoftBank Group Corp with a significant commitment from Saudi Arabia’s sovereign wealth fund, is considering a US$500 million investment in the Hong Kong initial public offering of ZhongAn Online Property and Casualty Insurance Co., Ltd. ZhongAn Online is China’s first Internet-only insurer jointly established by Alibaba Group, Tencent Holdings and Ping An Insurance in 2013. The company is geared toward raising US$1.5 billion in an IPO in Hong Kong at …
An agriculture insurance joint venture between Ant Financial Services Group and China United Insurance Holding Co. has received a green light from China’s insurance regulator, making it the first agriculture technology company co-established by an insurer to achieve regulatory approval from the China Insurance Regulatory Commission (CIRC).
Yi+, a Chinese artificial intelligence start-up developing machine vision technology for content marketing, has raised a RMB100 million (US$14 million) series B round from Haitong Securities, financial services company Bairongjun Group and The Bank of Beijing.
Beijing-based television and film company Enlight Media has agreed to acquire a 11.11% stake of Maoyan, a Chinese online movie ticketing service provider, for RMB999 million (US$152 million).
Alibaba Group has been expanding its offline footprint at a breathless pace in recent years, buying mall operator Intime Retail, acquiring stakes in supermarket chains Lianhua and Sanjiang, and launching its own Hema Supermarkets.
China is going cashless, no doubt. Chinese consumers spent a total of US$5.5 trillion via mobile payment platforms last year, or simply put, it was about 50 times more than their American counterparts (around US$112 billion), according to data from Forrester Research and iResearch. The credit of the country’s multi-trillion dollar mobile payment market goes to China’s third-party QR code-scanning mobile payment platforms, led by WeChat Pay and Alipay. Statistics show that from 2013 to 2016, the number of transactions …
Best Inc., a logistic service provider backed by Alibaba Group, has revised up the amount of capital it is seeking to raise in an initial public offering in New York to US$1 billion, from a previous target of US$750 million in June.
Alibaba Group Holding Ltd. and Yunfeng Capital, an investment vehicle controlled by Alibaba founder Jack Ma, have made a RMB1 billion (US$140 million) strategic investment in enterprise cloud services provider Qiniuyun to strengthen the Chinese e-commerce giant’s own cloud services business.
An investor consortium backed by Alibaba Group’s founder Jack Ma has agreed to acquire the Hong Kong and Macau operations of U.S. insurer Massachusetts Mutual Life Insurance Co., also known as MassMutual, for HK$13 billion (US$1.7 billion).
Chinese Internet giant Alibaba Group Holding Ltd. has unveiled plans to establish a regional headquarters in Xi’an city to support the growth of western China and the country’s One Belt One Road initiative.
SDIC Chuangye Investment Management, a subsidiary of State Development & Investment Corp, has led a US$100 million series A round in Cambricon Technologies Co., Ltd., an artificial intelligence chip developer.
Alibaba Group Holding Ltd. has led a US$1.1 billion investment in one of Indonesia’s top three e-commerce firms, PT Tokopedia, as the Chinese tech firm seeks to solidify its dominant position in the Southeast Asian market.
Alibaba and Tencent wanted to kill cash. But their dreams of a cashless society may get crushed first. Concerned about the declining use of China’s fiat currency and alarmed by reports of merchants refusing the RMB as payment, the People’s Bank of China has taken action to ban, or at least limit the use of the word “cashless” in promotional materials published by digital payment giant Alibaba’s Ant Financial.
U.S.-based smart hardware focused venture capital firm Grishin Robotics has led a US$9 million series A round in Gobee.bike, a Hong Kong-based bike sharing start-up.
Chinese Internet giant Alibaba Group Holding Ltd. and the Government of the Macau Special Administrative Region have entered into a strategic partnership framework agreement, under which Alibaba will support Macau’s implementation of smart city initiatives using cloud computing technologies.