Alibaba is putting $7B in Taobao promotions as JD.com invests $1.4B to grow food delivery, with both offering discounts to become China's leading “everyday app”
Eleanor Olcott / Financial Times :
Alibaba reports Q3 revenue up 5% YoY to ~$36.7B, net income down 69% YoY to ~$2B, Taobao and Tmall revenue up 2% YoY to ~$18B, and approves a $25B share buyback
- The move may appeal to some investors as growth plateaus — Alibaba is grappling with market and internal uncertainty
Analysis: Chinese livestream salesman Li Jiaqi, known for trying on makeup on his show, sold $1.9B in goods on Alibaba's Taobao during its Singles' Day festival
- Record on first day of Alibaba's Singles' Day shopping binge — Signals China's consumer strength despite economic slowdown
Tokopedia, Indonesia's largest online marketplace, says it has raised $1.1B led by SoftBank's Vision Fund and Alibaba; source: the deal values company at $7B
another massive e-commerce firm in Asia https://techcrunch.com/... Jon Russell / @jonrussell : The deal gives Tokopedia a valuation of $7B which makes it Southeast Asia's third largest private tech co...