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 Leads $1.1B Investment Round In Indonesian E-Commerce Firm Tokopedia
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.
China's Central Bank Rejects Alibaba, Tencent's Push For Cashless Society
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.
Alibaba Joins $9M Round In Hong Kong Bike Sharing Firm Gobee.bike
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.
Alibaba Partners With Macau To Drive Smart City Projects
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.
Tmall Injects $300M In Chinese Fresh Produce E-Commerce Platform Yiguo.com
Tmall, Alibaba Group Holding Ltd's business-to-customer e-commerce platform, has invested US$300 million in Yiguo.com, a fresh produce e-commerce platform.
Baidu Waimai, Ele.me Said In Talks To Create Food Delivery Giant
Baidu Waimai, the food delivery unit of Chinese search engine company Baidu Inc., is rumored to be in merger talks with Ele.me, a food ordering mobile app backed by Alibaba Group Holding Ltd. and Ant Financial.
Alibaba, Paytm Reportedly Acquiring 20% Of Indian E-Commerce Firm Bigbasket For $200M
Chinese e-commerce giant Alibaba Group Holding Ltd. is reportedly in talks with Indian mobile payments and e-commerce platform Paytm E-Commerce Pvt to acquire a 20% stake of Bigbasket, India's largest online grocery store, for US$200 million.
Alibaba Said To Lead Financing Round In Indonesia E-Commerce Firm Tokopedia
Alibaba Group Holding Ltd. is in talks to lead a financing round of as much as US$500 million in one of Indonesia's top three e-commerce firms PT Tokopedia, as the Chinese tech firm seeks to solidify its dominant presence in Southeast Asia.
Yunfeng Capital Leads New Funding Round In Chinese Tourism Solution Provider Davost Intelligence
Yunfeng Capital, a private equity firm founded by Alibaba's Jack Ma and Chinese entrepreneur David Yu, has announced plans to invest hundreds of millions of RMB in Davost Intelligence, a Beijing-based company specializing in providing business analysis and strategy planning services to the tourism sector.
Alibaba Entrepreneurs Fund Leads $14M Round In Cooking Video Producer DayDayCook
Alibaba Entrepreneurs Fund, an investment unit of Alibaba Group supporting start-ups in Hong Kong and Taiwan, has teamed up with Hong Kong businessman Adrian Cheng to lead a RMB100 million (US$14 million) series B round in DayDayCook, a Hong Kong-based start-up providing cooking videos and recipes.
Alibaba Prepares For The Future With Debut Of "Five-New" Committee
China's largest e-commerce firm Alibaba Group Holding Ltd. said it has established a new company-wide committee to implement its strategy for the future and upgrade the group's various business units.
IFC Leads $50M Round In Hong Kong Fintech Firm CompareAsiaGroup
International Finance Corp. (IFC), a member of the World Bank Group, has led a US$50 million series B round in CompareAsiaGroup, a Hong kong-based online comparison platform for financial, telco and utility products across Asia.
Ofo Sets New Fundraising Record After Collecting $700 Million In New Round
What do you do when your closest rival raises a record financing round? Complete a larger fundraising and set a new record, of course.
Alibaba Invests $1B To Increase Stake In Southeast Asian E-Commerce Firm Lazada To 83%
Alibaba Group Holding Ltd. said it plans to invest approximately US$1 billion to increase its stake in Southeast Asian e-commerce platform Lazada to approximately 83% from 51% previously, highlighting the Chinese online shopping giant's ambition to deepen its global expansion.
JD.com Partners With China Eastern Airlines To Strengthen Logistics Services
JD.com Inc. has signed a strategic partnership with China Eastern Airlines Co., Ltd. to leverage each other's resources, according to state media reports.
Alibaba-Backed Logistics Firm Best Inc To IPO In U.S.
Best Inc., the Alibaba-backed Hangzhou-based logistics company also known as Best Logistics Technology Co., has filed for an initial public offering on either the New York Stock Exchange or the Nasdaq Global Market, aiming to raise US$750 million.
Chinese Retailer Suning Launches Private Internet Bank
Jiangsu Suning Bank Co., Ltd., a private online bank backed by Suning Commerce Group Co., Ltd., officially launched Friday, as the Chinese retailer continues its diversification into financial services.
Alibaba Launches Tmall World To Serve 100M Overseas Chinese Shoppers
Alibaba Group Holding Ltd. announced today the official launch of Tmall World as part of its globalization strategy. The new platform aims to connect the over 100 million overseas Chinese shoppers worldwide with products offered on its flagship e-commerce portals, Taobao and Tmall.
Alibaba Cloud To Open New Data Centers In India And Indonesia
Alibaba Cloud, the cloud computing arm of Alibaba Group Holding Ltd., announced today that it plans to establish new data centers in Mumbai, India and Jakarta, Indonesia, bringing its total number of data centers globally to 17.
Fosun Leads $14M Round In Chinese Cloud Computing Firm CloudCare
Chinese conglomerate Fosun Group has led a nearly RMB100 million (US$14 million) series C round in CloudCare, a Shanghai-based cloud computing company. Existing investor Sequoia Capital China also participated in the round.
Chinese VCs Are Loving Autonomous Driving Tech
What is hot in China's venture capital land nowadays besides artificial intelligence? The answer: autonomous driving. Back in 2015, when the Chinese government issued its China 2025 blueprint, it named autonomous driving as a key sector for the nation's technological and economic future. VCs have responded by crowding into the sector. Over the past ten months, Chinese investors have made eight major deals worth over US$280 million, according to data from China Money Network.
Alibaba Expands Equity Stake In Retail Management Solution Firm Baison
Alibaba Group Holding Ltd. has agreed to acquired ten million shares of Shanghai Baison Software Co., Ltd, a retail management solution provider listed on China's New Third Board, following a purchase of five million shares at RMB9 apiece two weeks ago.
Alibaba Acquires 18% Of Supermarket Unit Of Bailian Group
Chinese e-commerce giant Alibaba Group Holding Ltd. continues to expand its holdings in brick-and-mortar retail assets, announcing a deal to buy an 18% stake in the Lianhua Supermarket chain, owned by Shanghai-based Bailian Group.
Alibaba, Ant Financial Said To Lead $1B Round In China Online Food Delivery Start-up Ele.me
Alibaba Group Holding Ltd. and its financial services affiliate Ant Financial plan to lead a US$1 billion funding round in Ele.me, a Chinese food ordering mobile app, which will value the start-up at US$5.5 billion to US$6 billion post-money, according to media reports citing insiders.
Jack Ma Says China Will Handle One Billion Packages Daily By 2025
Jack Ma, founder and executive chairman of Chinese Internet giant Alibaba Group Holding Ltd., predicts that the number of express delivery packages handled each day in China will jump ten-fold to one billion within the next eight years, from just under 100 million per day currently.
Alibaba Health Acquires Parent's Nutrition Supplement Unit For $490M
Hong Kong stock exchange-listed Alibaba Health Information Technology Ltd. said it would acquire a nutritional supplement unit of its parent Alibaba Group for HK$3.8 billion (US$490 million), according to a company announcement.
Alibaba Teams Up With Germany's Bosch To Develop Smart Devices
Alibaba Group Holding Ltd has formed a strategic partnership with German industrial manufacturer Bosch Group GmbH to develop interconnected smart devices, strengthen collaboration in big-data-based digital marketing and omnichannel retailing.
Alibaba To Bolster E-Commerce In Pakistan Under Agreement With Trade Bureau
Alibaba Group Holding Ltd. has signed a memorandum of understanding with the Trade Development Authority of Pakistan to foster growth of exports by small and medium sized enterprises in Pakistan through its e-commerce platforms, in another step in Alibaba's international push.
BAT Might Become JAT As JD.Com Value Catches Up With Baidu
BAT, a term used to describe the three dominant Chinese Internet giants Baidu, Alibaba and Tencent, could soon become JAT, as the value of search engine Baidu Inc. looks likely to be overtaken by JD.com Inc.
Alibaba's Payment Unit Partners With First Data To Expand Alipay In US
Alipay, Alibaba Group's third-party payment service, has teamed up with U.S. payment solutions provider First Data to expand Alipay's reach in North America, the two companies announced today.