Tag: alibaba

Charlie Munger doubles down on Alibaba Stock
Investments, Tech

Charlie Munger doubles down on Alibaba Stock

Warren Buffett‘s longtime partner Charlie Munger has disclosed that a firm that he chairs nearly doubled an investment in the Chinese internet giant Alibaba Group Holding. Munger now owns over 300,000 Shares of Alibaba Stock through Daily Journal. Daily Journal publishes newspapers and websites covering California and Arizona, and produces information services; it also owns large stakes in stock, with a portfolio valued at $225 million. The current holdings are pictured below : Charlie Munger's Daily Journal Holdings as of September 30 2021 To say that Charlie Munger is bullish on Alibaba would be an understatement. Since he added to his position Alibaba Stock is up by approx 24%. The current price is 165.50 HKD. $162.10 on the Nasdaq.
Ninja Van raises $578 million in Series E funding, Alibaba among Investors
Investments, Logistics

Ninja Van raises $578 million in Series E funding, Alibaba among Investors

Ninja Van has raised $578 million in Series E funding, pulling in existing and new investors that include Chinese e-commerce giant Alibaba Group. The latest round comes over a year after it secured $279 million in Series D and amidst talks it is targeting a US public listing.  Singapore-based logistics services operator Ninja Van said last Sunday that its latest funding round pulled in existing investors Geopost/DPDgroup, B Capital Group, Monk's Hill Ventures, and Zamrud. Alibaba also participated in this round as a new investor, said Ninja Van.  The funds injection would go towards beefing up its infrastructure and technology systems to support "a sustainable long-term cost structure", Ninja Van said. It added that the investment also would support the "quality and consistency" of ...
Alibaba opens first community e-commerce store Taocaicai in China
Retail

Alibaba opens first community e-commerce store Taocaicai in China

This week, Alibaba’s first “Taocaicai’’ offline store opened in Changsha, China. At first glance, it looks like an ordinary small shop of only 60 square meters, but the internal decorations revealed its extraordinary details. The ​​60 square meters is allocated to 7 functional areas, not only is there a “Tao Cai Cai self-selection point”, but also live broadcast rooms and delivery stations. In March of this year, Alibaba integrated 1688.com, Freshhema, and other business units to establish a community e-commerce business group into the two major brands “Freshhema’’ and “Taobao Shopping’’. At the Changsha new brand launch conference on September 14th, Alibaba officially announced that the community e-commerce brand will be upgraded to become “Taocaicai’’. After this upgrade...
Tencent and Alibaba lose $330bn in market value in 2021
Tech

Tencent and Alibaba lose $330bn in market value in 2021

The combined market cap of the top two Chinese tech companies has plunged $330 billion since the end of last year under regulatory pressure by Beijing. The market cap of top-ranked Tencent Holdings stood at $574.3 billion on Aug. 30, down about 20% since the beginning of the year. Alibaba Group Holding descended from second to third place on a fall of 30% in market value to $440.6 billion as its stock price continued to hit post-listing lows. During the end of 2020, Tencent and Alibaba had followed closely behind American tech giant like Apple and Amazon in market value. Toughened Chinese regulations are starting to hurt manufacturers of luxury goods as well. Luxury liquor producers Kweichow Moutai, ranked fifth, and Wuliangye Yibin, 20th, saw their market values shrink 20% and 30%,...
China court drops sexual assault case against ex-Alibaba employee
Tech

China court drops sexual assault case against ex-Alibaba employee

The district court in north-eastern Shandong province said the "forcible indecency" committed by the man, identified as Wang, was not a crime. The employee was arrested last month after a female employee of Alibaba said she was sexually assaulted on a business trip. Her allegations were shared widely on Chinese social media. Police in the city of Jinan, where the incident took place, said the investigation was closed but that Wang will remain under detention for 15 days "as punishment". The People's Procuratorate of Huaiyin city in Jinan added that Mr Wang's arrest order was not approved. "Alibaba Group has a zero-tolerance policy against sexual misconduct, and ensuring a safe workplace for all our employees is Alibaba's top priority" an Alibaba spokesperson told the BBC in...
Alibaba pledges $15.5 billion to help China reach ‘common prosperity’
Tech

Alibaba pledges $15.5 billion to help China reach ‘common prosperity’

Alibaba will invest 100 billion yuan ($15.5 billion) into China's drive to achieve "common prosperity". This is the latest big pledge from a Chinese company to support President Xi Jinping's campaign. The Chinese tech company announced Friday that it would spend the massive sum by 2025 with an eye on five priorities: innovation in technology, economic development, the creation of "high-quality employment," supporting vulnerable communities, and setting up a special development fund. Alibaba is also setting up what it's calling the "Prosperity Advancement Working Committee," which will be helmed by Chairman and CEO Daniel Zhang. Didi and JD.com are letting their workers unionize "Alibaba is a beneficiary of the strong social and economic progress in China over the past 22 years....
Famous Value Investor Mohnish Pabrai increases his stake in Alibaba
Tech

Famous Value Investor Mohnish Pabrai increases his stake in Alibaba

Value Investor Mohnish Pabrai increased his stake in chinese e-commerce Giant Alibaba during the second quarter of 2021. In the latest 13f Filing we notice that his stake has increased to 258721 shares of Alibaba's ADR. This is an increase of about 50% compared to his latest filing in Q1 2021.
Alibaba Group Boosts Share Buyback to US$15B
Ecommerce, Tech

Alibaba Group Boosts Share Buyback to US$15B

Alibaba Group said on Tuesday it has upsized its share repurchase program to US$15 billion from US$10 billion through 2022, the largest in the tech giant’s history demonstrating confidence in its long-term sustainable development and value creation. The Hangzhou-headquartered company also said that it had repurchased about US$3.7 billion worth of its American depositary shares (ADSs) since April. The company’s revenue jumped 34% in the quarter ended June 30, propelled by strong momentum at businesses across its digital ecosystem.  Revenue surged to RMB205.7 billion (US$31.9 billion), up from the RMB153.8 billion posted in an exceptionally robust quarter a year earlier as the coronavirus pandemic in China drove a massive shift online across society.  Annual activ...
Chinese e-commerce giant Alibaba formed a new life services division to take on Meituan
Life Services

Chinese e-commerce giant Alibaba formed a new life services division to take on Meituan

Chinese e-commerce giant Alibaba Group Holding has formed a new life services division that covers digital mapping, online travel booking and food delivery in its latest corporate restructuring, a move that is poised to ratchet up competition with on-demand local services market leader Meituan. Alibaba partner Yu Yongfu will lead the new group that includes digital mapping platform AutoNavi. Another business they will operate is the online travel business Fliggy, local services platforms Ele.me and Koubei. This is according to an internal letter issued last Friday by Daniel Zhang Yong, chairman and chief executive of Alibaba. The businesses under the division all provide location-based services. The term generally stands for software technologies that apply geographic data to provid...