Alibaba

Alibaba Cloud suddenly released a major announcement, announcing a price reduction for large models, with the entire line of Tongyi Qianwen visual understanding models reduced by over 80%. This is also the third round of price reductions following two previous reductions in May and September 2024. The person in charge…

Alibaba’s Freshippo reports nine months of profit in a rowRead More

Freshippo has reportedly delayed its planned IPO due to lower valuation Credit: Alibaba Freshippo CEO Yan Xiaolei announced in an internal letter today that the Alibaba-owned grocery chain has achieved double-digit growth based on nine consecutive months of overall profitability, with customer numbers increasing by over 50%. This marks the…

Chinese tech giant Alibaba is doubling down on artificial intelligence to spur the growth of its e-commerce division. Credit: 123RF Alibaba Group announced a major restructuring of its e-commerce business on Thursday, consolidating its domestic and international operations into a single e-commerce division. CEO Eddie Wu, in an internal memo,…

Eddie Wu, CEO of Alibaba Group, has announced a major restructuring in an internal email, combining the company’s domestic and international e-commerce operations into a single business group. Jiang Fan will serve as the CEO of the newly formed group. This restructuring merges the operations of Taotian Group (which includes…

Chinese startup unveils AR glasses featuring Alibaba’s LLMsRead More

Alibaba’s financial performance in Q3 2024 paints a nuanced picture: strong user engagement and transaction volume growth were tempered by declining profitability and market skepticism. The 88VIP membership program expanded significantly, reaching 46 million members with double-digit year-on-year (YoY) growth in a single quarter. Gross merchandise volume (GMV) also climbed…

Alibaba to bet big on small merchants for Singles Day with RMB 2 billion subsidies Credit: Alibaba Alibaba Group reported a 5% year-on-year revenue increase to RMB 236.5 billion ($33.7 billion) in the second quarter of 2024, with steady growth in core operations. Net income surged 63% to RMB 43.5…

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Alibaba’s financial health in 12 chartsRead More