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South China Morning Post:China’s No 1 Steelmaker Wants to Be The Next Alibaba Selling Steel Online

baosteel
Many Chinese people want to be the next Jack Ma in China nowadays and many companies want to copy the success story of Alibaba too including the latest and unusal effort by something that doesn’t have too much to do with technology – China’s No.1 steelmaker. Shanghai-headquartered Baosteel surprised its shareholders this week by announcing a grand plan on red-hot e-commerce business in the world’s...

Chinese Major Internet Holding Alibaba Opens Office in Russia

UCWeb, a daughter company of Chinese Internet holding Alibaba Group which develops a mobile browser opens an office in Russia, UCWeb told TASS. A UCWeb office will be situated in Moscow becoming a fourth regional office of the company, as other three offices are located in India, Indonesia and Vietnam. The new UCWeb office will be tasked to support and promote company’s products among users in Russia...

Costco Joins Alibaba’s Online Portal

Costco Wholesale Corp, known primarily for its US membership-only warehouse clubs, is entering the Chinese mainland without a store. It will sell food and household items to Chinese consumers on TMall, the business-to-consumer portal of Alibaba Group Holding Ltd. The venture announced on Monday will be Costco’s first foray into China. David Strasser, an analyst at Janney Montgomery Scott LLC...

Alibaba Chairman’s Financing Firm Granted to Set up Private Bank

alibaba
China’s banking regulator gave the go-ahead on the setup of two more private banks on Monday, including MYbank which will be mainly funded by a micro-business financing company owned by Alibaba Chairman Jack Ma and his colleagues. MYbank will be located in Hangzhou, capital of East China’s Zhejiang Province, and the other private bank will be based in neighboring Shanghai, the China Banking...

Alibaba’s Mega IPO Signals Rise of China’s New Wave of Tech Giants

alibaba
As Alibaba, China’s e-commerce giant, made its monumental debut with a 38 per cent jump in value on its first day of trading on the New York Stock Exchange on Friday, it is hard not to be awed by the enormous wealth its chairman, Jack Ma Yun, has created for himself, his employees and investors – the focus of intensive media frenzy. Founded by the former English teacher in his Hangzhou...

Alibaba is to IPO

alibaba
The Alibaba IPO is coming this week. It’s expected to raise between $21.1 billion and $24.3 billion, making it the largest initial public offering since Facebook Inc.’s (Nasdaq: FB) $16 billion IPO in 2012. Because of their similar sizes, and the fact that they’re only separated by two years, the Alibaba Group Holding Ltd. (NYSE: BABA) IPO and Facebook IPO have been repeatedly compared...