For the love of goods, an ambitious Alibaba plans to double down on Singles’ Day this year

VCG/Getty Images Singles’ Day, China’s once-timid Valentine’s Day repackaged as a 24-hour online retail blitz, is about get bigger for Alibaba. In just a few days’ time, the world will meet the 10th edition of Alibaba’s “Singles’ Day” shopping extravaganza and the company says it expects to receive more than one billion orders. It’s capitalism’s […]

Jack Ma will step down as Chairman of Chinese e-commerce giant Alibaba in September 2019

Sean Gallup/Getty Images Jack Ma, the founder of online Chinese retailing giant Alibaba, will step down as Chairman on September 10, 2019. Ma will be succeeded by Daniel Zhang, Alibaba’s current CEO. Ma wrote a letter to customers and shareholders explaining his decision. Chinese online retailing giant Alibaba has announced that founder Jack Ma will […]

Alibaba is the latest Chinese internet giant to test self-driving cars

China’s Alibaba Group has been testing its own autonomous vehicle technology, the South China Morning Post reports, and is looking to hire an additional 50 self-driving vehicle experts. Alibaba’s rivals Baidu and Tencent have also been working on autonomous technology and last month, Baidu received the go-ahead from the Chinese government to begin testing its […]

An early investor in Alibaba has raised $375 million to help build $10 billion European tech giants

Eight Roads Ventures Eight Roads Ventures has raised $ 375 million to fund late-stage startups, an underserved area in Europe. Eight Roads was an early backer in Alibaba in 1999, and has also invested in furniture company and Notonthehighstreet. The venture firm wants to build more $ 10 billion companies out of Europe, where startups […]

Forget millennials — Alibaba is swooping in on a surprising consumer market in China that’s already 222 million strong

Gideon Mendel/Corbis via Getty Images Taobao, the Alibaba-backed online retailer, has launched a customized version of its app for elderly users. China has 255 million people aged over 60, a largely untapped market potentially worth billions in revenue. The company recently began recruiting for two elderly workers to improve its app for older users. Nestle, […]

Alibaba will sell cars with a vehicle vending machine

Chinese internet ecommerce giant Alibaba is still breaking online shopping records, but it’s begun veering into physical sales, too. That the company is reportedly planning a shopping mall is in their retail wheelhouse, but last week’s news was further afield: Alibaba will help sell Ford EVs in China. Part of that proposal included the intriguing […]

Ford is teaming up with Alibaba to sell cars online in China

China Photos/Getty Images Reuters reports that Ford is expected to sign an agreement with Alibaba that could allow it to try its hand at selling cars on the company’s online platform in China. The agreement would also reportedly allow the automaker to test a store concept called an “Auto Vending Machine. If Ford likes the […]

Internet giant Alibaba crushes one-day online shopping record

If you needed evidence that internet shopping still has room to grow, you just got it. Chinese e-commerce powerhouse Alibaba has confirmed that its annual Singles’ Day sales event racked up the equivalent of more than $ 25.3 billion in sales, easily setting a record for the most online purchases in one day. For context, […]