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Alipay to Serve International Customers

Hangzhou, 1st November: According to a report on Penn-Olson, Alibaba Group’s online payment platform, Alipay, will launch a new service to process international payment later this month. The new service will be named Alipay Express, and will partner with a “major recognised brand of bank” that will also be involved with the new launch. Alipay Express is reportedly based closely ... Read More »

Alibaba Seeks Allies for Yahoo Bid

Jack Ma, COE of Alibaba Group Holding has restated his intentions to look for partners to acquire Yahoo Inc. according to a report in the Wall Street Journal (Oct 21-23, 2011 issue).   A takeover of Yahoo Inc. would be by far the most ambitious move abroad by the Alibaba Group.   It was said that a potential takeover of Yahoo by Alibaba ... Read More »

Alibaba Raises Fees and Faces Internet Protests

Steep rises in pricing entails risk – even for the market leader.  Alibaba Group has triggered internet protests of small online vendors by introducing steep fee increases on its business-to-consumer site, highlighting the weight the e-commerce group carries in the Chinese economy. Close to 50,000 people were logged in on Thursday to an online voice chatroom for small vendors on ... Read More »

Alibaba to Invest US$282 Million in Tmall.com

Hangzhou, 17th October: The Alibaba Group announced its latest plan to invest RMB 1.8 billion (US$282 million) to its B2C subsidiary, Tmall.com (Taobao Mall), in an effort to assist small- and medium-sized enterprises. The announcement was made after China’s Ministry of Commerce (MOFCOM) reportedly stepped in to mediate an online protest staged on Taobao Mall by small business owners after ... Read More »

Yahoo Co-Founder Jerry Young Considers Buyout

Yahoo co- founder Jerry Yang would like to take the $20 billion company off public markets, according to people familiar with the situation.   There are many reasons for Yang exploring this new avenue:  Yahoo is punished by Wall Street for not being a growth company and its low stock price has enticed others to consider a takeover of Yahoo: Jack ... Read More »

Alibaba Said to Tap Temasek Funding to Buy Stake From Yahoo

According to Bloomberg Businessweek Alibaba Group Holding Ltd. has talked with Singapore’s Temasek Holdings Pte about providing financing to buy out Yahoo Inc.’s 40% stake in Alibaba.  Recently Alibaba’s founder and CEO, Jack Ma stated that he was interested in buying Yahoo Inc.   He is obviously working on various options to dissolve Alibaba’s cumbersome relationship with Yahoo. Source:  Bloomberg Businessweek Read More »

Taobao Mall Company Forms Alliance with Rival Web Retailers

Taobao, a unit of Alibaba Group Holding, Ltd announced that it would allow 38 Chinese online retailers to open virtual stores on its site.  According to the Wall Street Journal Taobao embracing smaller retailers marks a new strategy for the company, which in the past has focused on hosting stores for retail brands.   The new strategy is designed to battle ... Read More »

Alibaba.com Unveils Supplier Verification Measures

B2B e-commerce platform Alibaba.com announced last week a series of new measures designed to tackle fraudulent sellers on its international sourcing website. The new measures at in response to the uncovering of approximately 100 Alibaba.com sales staff found to be involved with or responsible for over 2,300 fraudulent vendors on Alibaba.com in February this year. The new program will include ... Read More »

Alibaba USA on the Acquisition Trail

Alibaba subsidiary acquires U.S. online comparison platform San Mateo, CA, 28th June: Alibaba.com’s U.S. e-commerce software solution subsidiary, Vendio Services, announced the acquisition of SingleFeed for an undisclosed fee. SingleFeed offers services that help online merchants to submit, manage, and optimise product listings on comparison shopping search engines such as Google Product Search and PriceGrabber. SingleFeed’s services will be offered ... Read More »

Alibaba Splits Taobao into Three Separate Entities

Alibaba Group Holding Ltd reorganized its online retail unit Taobao into three separate companies, to be able to better respond to competition.  Taobao has recently lost market share in online retail transactions, falling from 75% market share a year ago to 71.6% in the first quarter of this year according to Analysys.   Taobao will be split into ‘Taobao Mall’, which ... Read More »

Boogle.cn Launches Beta Version of its B2C Platform

Zhejiang Netsun Enters B2C Market Hangzhou, 24th May: Shenzhen-listed Zhejiang Netsun announced the launch of a beta version of its B2C platform, Boogle.cn. A spokesman of Netsun claims the company’s B2B platform receives 40 million hits daily, and its 10 million plus users provide an advantage and reason for the company to enter the B2C market. The Hangzhou-based company has ... Read More »

BOL Joins D&B in Launching ‘Online Trust Solutions’

Mr. Min Intanate, Executive Chairman of Business Online Public Company Limited and D&B Thailand attended the press launch of ‘OTS: Online Trust Solutions’ at Four Seasons Hotel, Bangkok, with Mr. Sahas Treetippabut, President of Thai e-Commerce Association. OTS or Online Trust Solutions is a service that seeks to increase the credibility between the customers and business partners with the companies ... Read More »

People’s Bank of China issues 27 E-payment Licenses

The People’s Bank of China issued electronic payment licenses to 27 qualified third-party payment platforms in China on May 26th 2011 Alipay.com Co Ltd (Alibaba Group); Tenpay.com (Tencent Holdings Ltd) and Shanpay (Shanda Interactive Entertainment Ltd) were the three most prominent recipients of licenses to operated electronic payment systems in China.  Alipay, China’s largest e-payment system stated that the license ... Read More »