The 10th annual Chinese shopping bonanza Singles’ Day has generated a record $30.7 billion U.S. in sales for internet giant Alibaba (NYSE: BABA). The first $1 billion of transactions were completed within one minute and 25 seconds of the promotion's opening, Alibaba announced.
Chinese e-commerce giant Alibaba Group Holdings’ (NYSE: BABA) newly formed on-demand online services unit has rocketed in value to as much as $30 billion U.S. after raising $4 billion U.S. in fresh funds.
China's leading c-to-c and b-to-c e-commerce platform Taobao --- owned by Alibaba Group Holdings (NYSE: BABA) --- has rolled out a new app interface that will encourage more sharing, use of daily deals, and video content from users.
Chinese e-commerce giant Alibaba Group Holdings Ltd. (NYSE: BABA) posted a 54 percent boost in revenue in the second quarter and saw profits rebound ahead of Singles Day (November 11), the largest shopping holiday of the year in China.
Xianyu, the used goods marketplace and social network created by Chinese e-commerce giant Alibaba’s Taobao brand, has introduced video listing options with its latest app update. Videos for each listing can be up to ten seconds long. Other new features include video chat between buyers and sellers.
Souche will be partnering with USmile, the convenience store subsidiary of China National Petroleum Corporation (CNPC), which is one of the world's largest companies (ranking fourth on the 2017 Fortune 500). USmile outlets can be found in more than 20,000 CNPC gas stations across China.
Chinese classifieds giant 58.com (NYSE: WUBA) has launched its first “Smart Mini Program” on the Baidu app. The mini-program will offer a stripped-down version of the official 58.com app. The horizontal has also become an official partner of the Smart Mini Program project, which will allow it to begin creating its own ecosystem of mini-programs.
In July, unicorn AiHuiShou secured $150 million U.S. in a series E funding from Tiger Global Management and e-commerce giant JD.com. This was followed in September when e-commerce giant Alibaba (NYSE: BABA) joined the fray with an undisclosed “series C1 strategic funding round” for rival HuiShouBao.
Branded rental property provider Lucia has reportedly secured more than 10 million RMB ($1.68 million U.S.) in fresh funding. The company is currently valued at 300 million RMB.
Taobao, the c-to-c and b-to-c e-commerce platform from China’s Alibaba Group Holding (NYSE: BABA) is making a move into short video. It's launched its own, stand-alone app aimed at letting users show off their goods on the consumer-to-consumer platform.