Alibaba

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(Reuters) Alibaba Group will close its music streaming platform Xiami Music next month, in a move that marks a step back from its ambitions to push into China’s entertainment industry.“Due to operational adjustments, we will stop the service of Xiami Music,” the online music arm of the Chinese e-commerce giant…

Using Xiami was once synonymous with having good music taste in China. The music app, which debuted around 2008 and was acquired by Alibaba in 2013, is discontinuing its streaming service today, Xiami said in a notice to users. Xiami, which means “small shrimp” in Chinese, was once known for…

(Source: Weibo) Following rumors of a shutdown in November, Alibaba-backed Xiami Music (虾米音乐) released a statement on Jan. 5 announcing plans to close in February due to a business reshuffling. SEE ALSO: Is Alibaba’s Music Streaming Platform Xiami Shutting Down? Xiami will stop offering memberships and album purchasing services today,…

What happened: Speculation is growing as to the location of China’s renowned multibillionaire Jack Ma. Since October, Alibaba Group has been clashing with China’s regulators due to Ma’s outspoken criticism of the government, which resulted in a halt to the public offering of his $35 billion-company, Ant Group. According to…

Jack Ma had accused China's banks of harbouring a "pawnshop mentality". Within days Ant's US$37 billion initial public offering was cancelled by regulators in November Author of the article: Financial Times Ryan McMorrow and Tom Mitchell Publishing date: Dec 31, 2020  •   •  4 minute read Jack Ma has long…

About a year before Beijing suspended Ant Group’s monster IPO, the Communist Party’s official mouthpiece broadcast a stark message to Jack Ma, founder of the Alibaba tech empire that launched the fintech giant. “There is no so-called Ma Yun era, but only an era that has Ma Yun in it…no…

BEIJING (AP) - China’s market regulator on Thursday fined JD.com Inc., a unit of Alibaba Group and a third e-commerce outlet on charges of misreporting prices and other offenses amid a campaign to tighten official control over the booming industry. The ruling Communist Party encourages e-commerce and other online industries…

Chinese billionaire Zhong Shanshan made more than $70 billion in 2020 to become the new richest person in Asia, Richard Macauley and Venus Feng reported for Bloomberg. Shanshan's net worth is estimated at $77.8 billion, making him the 11th-richest person in the world right behind Oracle cofounder Larry Ellison.  The 66-year-old…

Beijing’s antitrust probe into Alibaba and Ant Group did not just shot down what could have been the world’s largest-ever market debut, it also stirred up a quick barrage of coverage on the whirlwind that still engulfs the largest Chinese internet company by valuation.  However, much of the media coverage,…