Alibaba’s Singles’ Day Shopping Festival is like no other. If you may think of an Academy Awards, Superbowl and Shop-Til-You-Drop combo – you’ll get a rough perspective of what this celebration of consumerism may look like. What actually happened, that made Alibaba Group Holding Ltd.’s Singles’ Day generate a record $25.3 billion in sales? This e-commerce giant started working with more traditional retailers to market discounted lobster, iPhones and refrigerators to shoppers from at least 225 countries and regions. To pump merchandise, the Chinese company also hosted a star-studded gala with film star Nicole Kidman and American rapper Pharrell Williams. Chief Executive Officer Daniel Zhang
Singapore is attracting the world’s leading artificial intelligence talent because of its status as a cosmopolitan society and strong state backing for technology research, according to the head of the private equity firm building a mega hub in the city for start ups involved in the sector. Joel Ko Hyun Sik, co-founder and chief executive of Marvelstone Ventures, said Alibaba’s announcement last week that it would site one of its global AI research facilities in Singapore was a shot in the arm for the republic’s ambitions to become a regional focal point for the fast growing industry. “There is a clear need for a big playground
As you might be aware, virtual reality shopping is well on its way to being commonplace. Alibaba, eBay, Ikea, Wayfair, even the hypercar manufacturer Pagani are all dabbling with the usage of VR headsets to help sell products. But this is all well and good for large companies who have the budget to trial such projects, but what about small and medium-sized online businesses who are unsure of whether VR will catch on? To begin with, there is seemingly nothing wrong with simply selling from your website like we’ve known for the last decade. It’s easy, efficient, and for anyone who has ever gone through the
Every day, our inbox gets flooded with gazillion startups claiming they’re on a path of market disruption. From another standpoint, numerous funds and banks love to talk about disruption and claim that we will live in a ‘brave new world’ thanks to services they provide. ‘Big Blue’, nickname for an IT giant from Armonk in New York state, decided to claim something different – that the digital disruption already happened. Now, some claims from the slide are quite exaggerated (Netflix?), but we will leave you to bring your own conclusions. The message IBM sends is quite clear and the question is what kind of services IBM offers to
Wanda Group’s IPO in Hong Kong does not make Wang Jianlin the richest man in China immediately
Highlighted business news in Taiwan, China and Hong Kong for Dec. 17, 2014
China’s biggest retailer, and possibly the world’s largest retailer globally, Alibaba has announced that today they sold over $9 billion worth of merchanise
A new online shopping platform for mothers, Totspot, allows mothers to easily buy and sell lightly used fashionable garments for their children.
Yahoo expects Tumblr to rake in $100M in 2015, reporting 40% growth in users and the introduction of new native mobile ad formats.
Chinese buyers can pay the reservation fee via Tesla’s Tmall store and pick up their car in five days’ time. Will this be a new sales model for Tesla elsewhere?