Alibaba

“Everyone knows buying IPO shares makes good profits as most shares trade up on debut,” said a banker working on Ant’s STAR IPO, declining to be named as he was not allowed to speak about the process. “The demand has been rather strong for Ant shares.”WOOING MAINLAND INVESTORSHong Kong-based brokerages…

Chinese e-commerce giant Alibaba (NYSE: BABA) plans to fully open its conversation artificial intelligence (AI) to other companies, especially those in the smartphone and home appliance sectors, the company confirmed with KrASIA on Friday. This move comes months after Alibaba announced a RMB 10 billion (USD 1.5 billion) investment plan…

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…

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…

China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money each workday. UNLOCK DATASubscribe & Access the Best Data and Intelligence on Chinese Venture Capital and TechRegister…

KrASIA InsightsCOVID-19 accelerated a wave of digitalization in China’s economy that is set to persist in areas like enterprise services, entertainment, education, and logistics. InsightsChinese tech companies build upon COVID-19’s digital legacy | KrASIA Year in ReviewBy Song Jingli21 Dec 2020•02:27 AMGreenhouse was a co-working startup that was hammered by…

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…

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…

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…

(Source: Alibaba) Alibaba Group Holding Ltd. said on Monday it will invest about $3.6 billion to increase its stake in Sun Art Retail Group Ltd., one of China’s largest supermarket operators. After the transaction, Alibaba will raise its aggregate direct and indirect stake to approximately 72%.This new investment in Sun…