Tag "Alibaba"

Paytm Mall now a unicorn; gets Rs 3Kcr from SoftBank & Alibaba

By : CIOL Writers

While Paytm has been busy revamping its app, its e-commerce subsidiary Paytm Mall has gained coveted unicorn status after raising around Rs 3000 crore from Japan’s SoftBank and Chinese e-commerce giant Alibaba Group. SoftBank will invest Rs 2,600 crore in

Alibaba brings visual-recognition capability to its smart speakers

By : CIOL Writers

Alibaba AI Labs has launched – the updated human – computer interaction system, AliGenie 2.0 that will enable Tmall Genie X1, the Labs’ first smart speaker with visual- recognition capability, to scan and read over 100 sets of children’s books

BigBasket raises $300M led by Alibaba

By : CIOL Writers

Bangalore based online grocery delivery startup BigBasket has has raised $300 million in a fresh funding round led by Chinese e-tailer Alibaba. The funding round also saw participation from other investors such as UAE-based private equity investor Abraaj Group, Sands Capital,

Zomato raises $200M from Ant Financial

By : CIOL Writers

Indian online food delivery startup Zomato has raised $200 million in a funding round led by Alibaba Group. The funding round was led by Ant Small and Micro Financial Services Group, a subsidiary of Alibaba Group. The fundraising is expected to

Alibaba-owned enterprise collaboration app DingTalk comes to India

By : CIOL Writers

In a bid to tap into the growing enterprise chat and collaboration app market in India, Alibaba-owned platform DingTalk has unveiled an English version of the app that caters to the small and medium-sized enterprises (SMEs). The English version of the app, also available

Alibaba invests $2.9B in Chinese hypermarket operator Sun Art

By : CIOL Writers

China’s biggest e-commerce giant Alibaba announced that it is investing HK$22.4 billion(around $2.88 billion) to acquire 36.16 percent stake in Sun Art Retail Group Ltd, a Hong Kong-listed business that operates 446 hypermarkets across 224 cities in mainland China. The Information was the

Alibaba’s Singles’ Day event rakes in record $25B in sales

By : CIOL Writers

China’s top e-commerce website Alibaba raked in over $25 billion or RMB 168.2 billion in sales on its signature Singles Day. Alibaba’s Singles Day event has single-handedly generated double the sales than those of Black Friday and Cyber Monday in the

Alibaba to invest $15bn in AI and quantum computing research

By : CIOL Writers

Chinese e-commerce giant Alibaba has announced that it will invest $15 billion over the next three years to build overseas research and development program in order to compete with global leaders in e-commerce, logistics and cloud technology. The program is

Alibaba paying $807M to increase stake in logistics firm Cainiao

By : CIOL Writers

Chinese e-commerce major Alibaba has agreed to invest RMB 5.3 billion ($807 million) in order to take majority ownership (51 percent) in logistics firm Cainiao. Prior to the investment, Alibaba held 47 percent in Cainiao. The deal gives Alibaba an

KFC now lets you pay with a smile in China

By : CIOL Writers

If you happen to be at KFC’s new ‘KPRO‘ restaurant in the Chinese city of Hangzhou, you won’t have to bother much to make the payment for your sumptuous meal- Just smile and you’ll be done. Well, it isn’t the case that the

Zomato in talks to raise $200M from Alibaba’s Ant Financial

By : CIOL Writers

Online restaurant discovery platform Zomato is in talks with Alibaba and its payment arm Ant Financial to raise up to $200 million, according to an Economic Times report. Citing people in the know of the things, the report says that though

Women are the ‘secret sauce’ behind the rapid growth of Alibaba

By : CIOL Writers

At its second Global Conference on Women and Entrepreneurship, with over 1,500 participants, Alibaba credited women as the ‘secret sauce’ behind the rapid growth of Alibaba. Themed- Altruism, Inclusiveness, and Dreams, the first day of the conference saw women from across the

Alibaba launches low-cost voice assistant to take on Amazon Echo

By : CIOL Writers

Barely a day after the reports about Samsung planning its own Bixby-powered voice assistant, Chinese tech giant Alibaba has launched its own version of the same. Alibaba, on Wednesday officially debuted “Tmall Genie,” a device that is very similar to the

Alibaba mulls a datacenter in Mumbai to provide cost-effective cloud services to SMEs

  CHINA: Alibaba Cloud, the cloud computing arm of Alibaba Group at its Computing Conference in Shanghai today has announced it plans to establish two new data centers in Mumbai, India and Jakarta, Indonesia in the current fiscal year. Together with

Nikhil Vora sells his stake in One97 Communications to Alibaba for Rs 150cr

By : CIOL Writers

Nikhil Vora, an early investor in One97 Communications has sold his entire stake in Paytm’s parent company to Alibaba and earned around Rs 150 crore on his six-year-old investment, reports ET. Former IDFC Securities star equity analyst sold his 0.35

SoftBank initiates truce between Snapdeal’s investors paving way for sale to Flipkart

By : CIOL Writers

Looks like Snapdeal may finally find a shore for itself soon as its three biggest investors—SoftBank Group Corp., Kalaari Capital and Nexus Venture Partners have decided to bury the hatchet, making way for a proposed sale of the e-tailer to one of its

Report: Snapdeal wooing employees promising profit & brushing off takeover rumors

By : CIOL Writers

Amidst cash crunch and investors feud, Snapdeal is finding it hard to convince employees of the ‘future profitability’ of the company. Snapdeal reportedly has conducted a series of undercover meetings with employees in past weeks, “promising profit and brushing off

Reliance Capital reportedly sells 1pc stake in Paytm to Alibaba for Rs 275 cr

By : CIOL Writers

Reliance Capital has reportedly sold its 1 percent stake in Paytm to Chinese e-commerce giant Alibaba and its payment arm Ant Financial Rs 275 crore. The company had been on a lookout for a potential buyer for over a month now. Reliance Capital holds

Paytm’s online marketplace grabs $200mn from Alibaba and SAIF Partners

By : CIOL Writers

Chinese e-commerce giant Alibaba is leading a $200 million investment in Paytm E-commerce Private Limited along with another existing backer SAIF Partners. While Alibaba Singapore E-Commerce Pvt. Ltd will invest $177 million in Paytm’s online marketplace unit, rest will come from SAIF Partners, an early investor

Paytm’s payments bank gets $32.5mn in fresh funding

By : CIOL Writers

Digital payments platform, Paytm that is all set to launch its payments bank service in Uttar Pradesh, this month has got another Rs 218 crore (or $32.5 million) cash infusion from Paytm CEO Vijay Shekhar Sharma, investing a sum of