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Alibaba on Tuesday said it was scrapping a planned initial public offering for its smart logistics unit Cainiao, adding to recent woes for the former Chinese tech darling.
HONG KONG -- Alibaba Group has canceled the planned listing of its logistics arm Cainiao Smart Logistics Network, the latest reversal of the e-commerce conglomerate's grand restructuring plan.
SEOUL -- China's Alibaba Group Holding will invest $1.1 billion over the next three years to create a logistics network in South Korea, aiming to take on local e-commerce giant Coupang by leveraging low prices and speedy deliveries.
The European Commission on Thursday said it opened a formal investigation into AliExpress, an international e-commerce website run by Chinese tech giant Alibaba, over concerns surrounding the dissemination of illegal content.
HONG KONG -- China's Alibaba Group Holding said Monday that it will invest at least 5 billion Hong Kong dollars ($640 million) in Hong Kong's entertainment sector over the next five years to support and strengthen the production of movies and other visual content.
Alibaba's cloud business on Thursday said it is cutting prices on a wide range of core cloud products by as much as 55%, in a bid to fuel AI growth in China.
HONG KONG -- Alibaba's Taobao has established a live commerce company as part of the shopping platform's attempt to reduce its reliance on "super hosts" such as Austin Li Jiaqi while also fending off threats from rival online retailers.
Chinese tech giant Alibaba Group is betting on its overseas businesses while domestic consumption growth remains sluggish.