Tag "Alibaba"

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

Alibaba to lead $200mn investment in Paytm’s e-commerce business

By : CIOL Writers

Paytm E-Commerce Pvt. Ltd is close to raising 200 million in an investment round led by Chinese internet giant Alibaba Group Holding Ltd, according to an Economic Times report. Citing two people in the know of the deal that will

Alibaba Cloud to open 4 more data centres including Japan & Australia

By : CIOL Writers

By the end of 2016, Alibaba Cloud, the cloud computing unit of Alibaba Group, plans to open four new data centers in Dubai, Germany, Japan and Australia. Marking the latest step in the unit’s $1 billion infrastructure investment drive, four

Snapchat reportedly files for IPO and could be valued at $25 billion

By : CIOL Writers

The California-based Snapchat has ‘secretly’ filed for IPO and is seeking to raise as much as $4 billion, according to Reuters. The report claimed, ‘Messaging app Snapchat has filed the paperwork confidentially for an initial public offering (IPO), sources familiar

UCWeb emerges as a core driver of Alibaba’s entertainment biz

By : CIOL Writers

Alibaba Group has established a separate cultural and entertainment group. The company will also raise 10 billion Yuan($1.48 billion) fund targeting China’s cultural, media and entertainment sectors. The new cultural and entertainment group will include video streaming site Youku Tudou,

Facebook failed again in acquiring Snapchat-like server, Snow

By : CIOL Writers

Facebook is totally smitten by Snapchat! If we dig the history of Facebook trying to create a clone for Snapchat, we can see how it has made enough alterations to ‘fit in’ just-like Snapchat among youth. It all started with

Alibaba unveils ‘Global E-Commerce Talents’ programme in India

By : CIOL Writers

Chinese e-commerce giant Alibaba has launched its “Global E-commerce Talents” (GET) programme in India aimed at equipping students, small business professionals and entrepreneurs with the competitive skills and essential resources required to prepare for the global e-commerce industry, the company

Baidu sets up 20 billion yuan investment fund

By : CIOL Writers

Chinese leading search engine Baidu Inc. has set up a 20 billion yuan ($3 billion) investment fund to focus on mid and late-stage technology deals in amounts of $50 million to $100 million. Called Baidu Capital, the fund will have

Walmart reportedly in talks with Flipkart for an equity partnership

By : CIOL Writers

Indian e-commerce market is getting hotter by the day. After Alibaba, Rakuten, it’s the world’s biggest retailer Walmart Store that is eyeing the lucrative Indian region and is reportedly in talks with local e-commerce giant Flipkart for an equity partnership,

Amazon to invest Rs 115 crore into it’s Indian wholesale vertical

By : CIOL Writers

Amazon is going all guns blazing in India to expand its pie share in the Indian e-commerce ecosystem. The US-based etailer has committed to pump in another $17.25 million (or Rs. 115 crores) in its wholesale arm — Amazon Wholesale