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Alibaba

Alibaba

Podcast: RIP Quibi (2020-2020)

Go deeperQuibi says it's shutting downPhoto: Igor Golovniov/SOPA Images/LightRocket via Getty ImagesQuibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global…
bubmag
October 22, 2020
Alibaba

Robot Advisor Startup AQUMON Raises Pre-B Round

AQUMON, a Hong Kong-based robot advisor wealth management company, has completed a Pre-B round of additional investment from Lenovo Ventures, Zheng He Capital, Alibaba Entrepreneurs Fund, Wing Lung Bank Family Office, and Hong Kong Cyberport. The financial details of the fundraising were not disclosed. As one of the largest online…
bubmag
October 22, 2020
Alibaba

Alibaba’s Double 11: Much More Than a Shopping Festival

Chinese e-commerce giant Alibaba Group Holding Ltd. kicked off its Double 11 Global Shopping Festival on Tuesday. With new innovations and features, Alibaba wants to boost consumer engagement for online and offline merchants as well as new and old brands, hoping to drive the largest spike in consumption since the…
bubmag
October 21, 2020
Alibaba

After delay, Ant Group’s gargantuan IPO set for early November

The reception desk of Ant Group, previously called Ant Financial, in Hangzhou in 2018. REUTERS/Shu Zhang. The Hong Kong Stock Exchange has approved the dual listing of Alibaba’s fintech offshoot, Ant Group, in Hong Kong and on Shanghai’s STAR market. Ant Group offers algorithm-based financial services, including mobile payments and…
bubmag
October 20, 2020
Alibaba

Alibaba Buying Out China’s Sun Art Retail for $3.6B

Sun Art has 484 outlets in China E-commerce giant Alibaba continued to expand its offline retail empire today with a deal to take control of China’s largest hypermarket operator for HK$28 billion ($3.6 billion). The Hangzhou-based company said in an announcement to the Hong Kong stock exchange that it had…
bubmag
October 19, 2020