Category: alibaba

June 10, 2019 Off

Luxembourg to get €100M investment from Chinese payments startup Pingpong

By Jill T Frey

For financial services firms looking to enter Europe, Luxembourg has historically been a popular anchoring point for its political and economic stability as well as a favorable regulatory environment. Another bucketload of capital is coming to the country after Chinese fintech startup Pingpong announced to invest more than €100 million ($113 million) in Luxembourg in the coming years.

Founded in 2014, Pingpong has been celebrated by its home city Hangzhou — also Alibaba’s backyard — as a pioneer in the country’s booming cross-border ecommerce sector. Backed by one of China’s largest investment banks CICC, the startup collects payments for Chinese exporters selling through Amazon, Wish, Shopee, Newegg and some other 14 ecommerce platforms around the world, which means clearing local regulatory hurdles is key to its business.

Its European ambition does not stop with Luxembourg. Luo Yonglong, a partner at Pingpong, said at a Saturday event that within three years, … Read the rest

June 5, 2019 Off

Alibaba, Mail.Ru, Megafon form AliExpress Russia JV to double down on e-commerce in CIS

By Jill T Frey

After announcing plans in September 2018 to build a joint venture together, today Russian internet giant Mail.ru,  Megafon and China’s Alibaba announced that the deal has closed. With support also from Russia’s sovereign wealth fund RDIF, the three are forming a new operation called AliExpress Russia JV — which will include business assets and investment from all three — to double down on building e-commerce services to serve consumers and businesses in Russia and neighboring countries. The joint effort is estimated to have a value in the region of $2 billion.

The operation has several moving pieces, which is one reason why it’s taken nearly eight months to bring it all together and close the deal:

  • Alibaba Group will invest $100 million and contribute AliExpress Russia into the joint venture. Alibaba says this includes Alibaba Group’s current Russia-based domestic and cross-border operations of the global retail marketplace business of AliExpress.
Read the rest
June 3, 2019 Off

With iOS 13, Apple delivers new features to court users in India

By Jill T Frey

Apple has finally listened to its small, but slowly growing user base in India. The iPhone-maker today announced a range of features in iOS 13 that are designed to appease users in the world’s second largest smartphone market.

First up, the company says its Siri voice assistant now offers all new and “more natural” Indian English male and female voices. It has also introduced a bilingual keyboard, featuring support for Hindi and English languages. The keyboard offers typing predictions in Devanagari Hindi that can suggest the next word as a user types and it learns from their typing over time.

Additionally, the keyboard in iOS 13 supports all of 22 Indian languages, with the inclusion of 15 new Indian language keyboards: Assamese, Bodo, Dogri, Kashmiri (Devanagari, Arabic), Konkani (Devanagari), Manipuri (Bangla, Meetei Mayek), Maithili, Nepali, Sanskrit, Santali (Devanagari, Ol Chiki), and Sindhi (Devanagari, Arabic).

The addition of these features comes … Read the rest

May 30, 2019 Off

Alibaba pumps $100 million into Vmate to grow its video app in India

By Jill T Frey

Chinese tech giant Alibaba is doubling down on India’s burgeoning video market, looking to fight back local rival ByteDance, Google and Disney to gain its foothold in the nation. The company said today that it is pumping $100 million into Vmate, a three-year-old social video app owned by subsidiary UC Web.

Vmate was launched as a video streaming and short-video-sharing app in 2016. But in the years since, it has added features such as video downloads and 3-dimensional face emojis to expand its use cases. It has amassed 30 million users globally, and will use the capital to scale its business in India, the company told TechCrunch. Alibaba Group did not respond to TechCrunch’s questions about its ownership of the app.

The move comes as Alibaba revives its attempts to take on the growing social video apps market, something on which it has missed out completely in China. Vmate could … Read the rest

May 28, 2019 Off

Alibaba reportedly mulling to raise $20B through a second listing in Hong Kong

By Jill T Frey

Massive news just dropped for Hong Kong’s capital markets. Alibaba, one of the world’s largest tech companies, is considering raising $20 billion through a second listing in Hong Kong, Bloomberg reported on Monday citing sources.

TechCrunch has reached out to Alibaba for comment and will update the story if and when we have more information.

Unnamed people told Bloomberg that the money raised in Hong Kong is intended to help Alibaba “diversify funding channels and boost liquidity.” The Chinese ecommerce behemoth is aiming to file a listing application confidentially as early as the second half of 2019, according to the report. That would come five years after Alibaba famously scored a record $25 billion listing on the New York Stock Exchange following Hong Kong’s refusal to approve its filing due to rules around company structure.

But the Hong Kong Stock Exchange is becoming an increasingly popular destination for public offerings … Read the rest

May 27, 2019 Off

TikTok parent Bytedance is reportedly working on its own smartphone

By Jill T Frey

It’s been a busy couple of months for Bytedance, one of the world’s most valuable startups and the operator of globally popular video app TikTok. The Beijing-based company has continued to grow its list of apps to include the likes of work collaboration tool Lark, an instant messenger called Feiliao as well as a music streaming app, and now it appears to be taking a bold step into the hardware realm.

Bytedance is planning to develop its own smartphone, the Financial Times reported (paywalled) citing two sources. A spokesperson from Bytedance declined to comment on the matter, but the rumor is hardly a surprise as smartphone pre-installs have long been a popular way for Chinese internet companies to ramp up user sizes.

There’s also urgency from Bytedance to carve out more user acquisition channels. After a few years of frantic growth, Bytedance failed to hit its revenue target for Read the rest

May 23, 2019 Off

Tencent’s latest education push is a nod to new collaborative structure

By Jill T Frey

When Tencent announced it had formed a new education brand this week, the internet giant wasn’t just flexing its muscles to conquer China’s booming online education sector. The new initiative is also an early result of Tencent’s long plan to foster more internal collaboration at a time when its core businesses, the lucrative video gaming segment and the billion-user WeChat, are under attack.

Called “Tencent Education,” the new brand consists of 20 products across all six of the firm’s business groups, announced executive senior vice president Dowson Tong at the company’s annual ecosystem summit on Wednesday. According to Tong, Tencent has over the years served some 15,000 schools and 70,000 educational institutes, giving it a reach of more than 300 million users in the sector.

What this means is when it comes to making education products, there will be more teamwork among Tencent divisions, from the one overseeing WeChat to … Read the rest

May 22, 2019 Off

A young entrepreneur is building the Amazon of Bangladesh

By Jill T Frey

At just 26, Waiz Rahim is supposed to be involved in the family business, having returned home in 2016 with an engineering degree from the University of Southern California. Instead, the young entrepreneur is plotting to build the Amazon of Bangladesh.

Deligram, Rahim’s vision of what e-commerce looks like in Bangladesh, a country of nearly 180 million, is making progress, having taken inspiration from a range of established tech giants worldwide, including Amazon, Alibaba and Go-Jek in Indonesia.

It’s a far cry from the family business. That’s Rahimafrooz, a 65-year-old conglomerate that is one of the largest companies in Bangladesh. It started out focused on battery manufacturing, but over the years its businesses have branched out to span power and energy and automotive products while it operates a retail superstore called Agora.

During his time at school in the U.S., Rahim worked for the company as a tech … Read the rest

May 20, 2019 Off

China overtakes US in smart speaker market share

By Jill T Frey

The U.S. no longer leads the smart speaker market, according to new data from Canalys out this morning, which found China’s smart speaker shipments grew by 500% in Q1 2019 to overtake the U.S. and achieve a 51% market share.

The firm said shipments in China reached 10.6 million units, which was driven by “festive promotions.”

More specifically, Baidu had a huge quarter thanks to an exclusive sponsorship deal with China’s national TV channel, CCTV, on its New Year’s Gala on Chinese New Year’s Eve — one of the biggest entertainment shows in terms of viewer numbers. This promotion prompted users to download the Baidu app, which distributed more than 100 million coupons to an audience of 1.2 billion during the show, and drove awareness around the brand’s smart speakers, Canalys says.

In Q1, Baidu shipped 3.3 million speakers — putting it in third place behind Amazon’s 4.6 million and … Read the rest

May 20, 2019 Off

TikTok owner ByteDance’s long-awaited chat app is here

By Jill T Frey

In WeChat -dominated China, there’s no shortage of challengers out there claiming to create an alternative social experience. The latest creation comes from ByteDance, the world’s most valuable startup and the operator behind TikTok, the video app that has consistently topped the iOS App Store over the last few quarters.

The new offer is called Feiliao (飞聊), or Flipchat in English, a hybrid of an instant messenger plus interest-based forums, and it’s currently available for both iOS and Android. It arrived only four months after Bytedance unveiled its video-focused chatting app Duoshan at a buzzy press event.

Screenshots of Feiliao / Image source: Feiliao

Some are already calling Feiliao a WeChat challenger, but a closer look shows it’s targeting a more niche need. WeChat, in its own right, is the go-to place for daily communication in addition to facilitating payments, car-hailing, food delivery and other forms of convenience.

Feiliao, … Read the rest