Chinese tech giant Alibaba Group sold US$1 trillion worth of goods across its platforms in the last year, the company revealed in quarterly results late last week. But a plunge in profitability in the latest COVID-19 affected quarter sent shares down nearly 6 per cent, costing company founder Jack Ma
Chinese ecommerce giant Alibaba has revealed its succession plan; Jack Ma will step down as executive chairman of the company he founded in 1999 one year from today. Ma made the announcement today, his 54th birthday, in a letter to Alibaba’s customers, employees and shareholders. Alibaba’s CEO Daniel Zhang will
Alibaba’s shares fell 5.9 per cent today after the company announced its Q3 revenue surged 56 per cent and it is acquiring a 33 per cent stake in its payment affiliate Ant Financial. Ant Financial, which operates Alipay, was spun out from Alibaba in 2011 ahead of its 2014 IPO
It’s estimated Amazon’s Prime Day generated $1 billion revenue this year. The question now is, can Jack Ma’s ecommerce giant do that every hour for 24 hours? Now in its 9th year, Singles’ Day, also known as “Double 11”, is already the world’s largest online shopping event and it’s set
You might have read that chairman of Alibaba, Jack Ma, has given $26 million to Newcastle Uni. The contribution will fund a range of scholarships for students from disadvantaged backgrounds. Sign up for Which-50’s Irregular Insights newsletter This is the biggest donation Newcastle Uni has ever received, and as an
After nine months on the ground, Alibaba officially opened its Australian and New Zealand headquarters in Melbourne over the weekend. Further strengthening ties with Australia, Alibaba founder and executive chairman Jack Ma met with prime minister Malcolm Turnbull to discuss trade and donated $26.4 million to fund a new scholarship
Alibaba’s Jack Ma has met with US president-elect Donald Trump in New York, promising to create one million jobs in the US in five years. Similar to its focus in Australia, Alibaba wants US small businesses and farmers to sell products and services through Alibaba’s platforms to China and Asia.