Search Results for:Cate Cadell

In record haul, Alibaba Singles’ Day rakes in $30b in online sales

Singles’ Day, or Double 11, is the world’s biggest online sales event, outstripping the sales of U.S. shopping holidays Black Friday and Cyber Monday combined.

Alibaba cuts sales forecast on economic uncertainty, trade fears

The move comes ahead of Singles’ Day which last year netted the firm over $25 billion in sales.

China’s Airbnb rival Xiaozhu raises $300m from Jack Ma’s Yunfeng Capital

The company’s top rival,, raised $300 million in October 2017 and is backed by Chinese travel-giant International. CEO to skip Shanghai tech forum after rape allegation

Since returning to China, Liu has appeared at small signing events on behalf of the company but is yet to attend a high-profile public event.

Xiaomi creates new leadership roles as part of CEO succession planning

The changes come less than a week after Jack Ma said he would step down as chairman of Alibaba in a year and hand the reins to CEO Daniel Zhang.

Facebook quietly sets up subsidiary in China despite hardening censorship

The subsidiary is registered in Hangzhou, home of e-commerce giant Alibaba Group Holding Ltd

Alibaba-owned food delivery firm to spend $440m to fight competition

Alibaba is beefing up’s war chest at a time when top competitor, Meituan Dianping, is preparing for a $4-billion HK listing.

Didi Chuxing bags $500m funding from parent

Customers on Booking Holdings’ websites, including and Agoda, will be able to hail Didi cars through existing apps as part of the agreement.

Baidu top exec behind firm’s AI drive to step down

Lu is the latest in a series of high-profile AI experts to leave the company in the past year, amid fierce global competition for talent in the field. picks 33% stake in insurer Allianz’s China unit for $85m

The investment will make the second largest shareholder in Allianz China, said the insurance firm in a filing.