Mogu’s long journey: From rejecting Alibaba’s advances to US IPO

Mogu, a Tencent-backed service that offers fashion content and products to young women, has joined a string of Chinese tech companies pressing ahead to sell their shares through initial public offerings in the US before the year-end. Mogu priced its sale at $14 per share on Wednesday, toward the lower end of a marketed range. … Read moreMogu’s long journey: From rejecting Alibaba’s advances to US IPO

Alibaba replaces video streaming boss amid anti-corruption probe

A top-level reshuffle is sending shockwaves across one of China’s biggest online video businesses. Yang Weidong has stepped down as the president of Alibaba’s video streaming unit Youku, the ecommerce operator’s digital media and entertainment business group confirmed to TechCrunch on Tuesday. Yang is understood to be assisting the police with an investigation into “an … Read moreAlibaba replaces video streaming boss amid anti-corruption probe

Alibaba-backed parenting site Babytree starts taking orders for downsized IPO

A lot of Chinese millennials may be delaying or opting out of childbearing, but those who have committed to parenting often go all out to ensure their children grow up healthy and do well in school. One company capitalizing on China’s booming mother and infant industry – which is expected to double in market valuation … Read moreAlibaba-backed parenting site Babytree starts taking orders for downsized IPO

WeChat e-wallet teams up with Line to target Japan’s 7M Chinese tourists

China’s biggest chat app WeChat is set to make its payments service more ubiquitous in Japan, a popular outbound desitnation for Chinese tourists. On Tuesday, the Tencent-run messenger unveils a partnership with Japan’s Line chat app on mobile payments. The tie-up allows Japanese brick-and-mortar merchants with a Line Pay terminal to process WeChat Pay transactions … Read moreWeChat e-wallet teams up with Line to target Japan’s 7M Chinese tourists

Tencent e-wallet is following Alibaba to Hong Kong subways

China’s payments giants have taken their battle to Hong Kong. Less than a week after Ant Financial announced adding QR codes to the city’s MTR public transport network of rail and buses, Tencent’s WeChat Pay unveiled a similar scheme on Wednesday. Starting mid-2021, commuters in Hong Kong can scan a barcode to enter the subway … Read moreTencent e-wallet is following Alibaba to Hong Kong subways

Hong Kong is adding QR code payments to its subway stations

A new dispatch from our ‘QR Codes Are Very Much Alive In Asia’ reporting program: Hong Kong’s subway system will soon allow its commuters to pay by scanning QR codes thanks to a deal with Alibaba that was announced this week. The partnership — which is with Alibaba’s Ant Financial affiliate — will see scan-to-pay … Read moreHong Kong is adding QR code payments to its subway stations

Alibaba and Amazon move over, we visited JD’s connected grocery store in China

The arms race to build the future of grocery stores is heating up in China. To no one’s surprise, the main contestants are the country’s ecommerce titans Alibaba and JD.com, which are turning offline for growth. Online retail has flourished in China, but it still accounts for less than 20 percent of the nation’s overall consumption, according … Read moreAlibaba and Amazon move over, we visited JD’s connected grocery store in China

Alibaba sets new Singles’ Day record with $31B in sales, but growth is slowing

Alibaba scored another blockbuster Singles’ Day after customers around the world shopped in stores and online on the tenth edition of its November 11 shopping festival. That puts this year’s gross merchandise volume – a measure for the dollar value of total transactions – at a staggering $30.8 billion, although the company recorded its lowest-ever … Read moreAlibaba sets new Singles’ Day record with $31B in sales, but growth is slowing

Alibaba rival JD.com plays the long-game on technology investment

China’s JD.com  has made it clear recently that it’s venturing into artificial intelligence and automation. Every few months over the past year, the online retailer – China’s second-largest by transactions after Alibaba – has unveiled new products based on cutting-edge technology: for example drone delivery, self-driving trucks, fully automated warehouses, to name a few. Most … Read moreAlibaba rival JD.com plays the long-game on technology investment

Yahoo agrees $50M settlement package for users hit by massive security breach

One of the largest consumer internet hacks has bred one of the largest class action settlements after Yahoo agreed to pay $50 million to victims of a security breach that’s said to have affected up to 200 million U.S. consumers and some three billion email accounts worldwide. In what appears to be the closing move to … Read moreYahoo agrees $50M settlement package for users hit by massive security breach