Showing posts with label Alibaba. Show all posts
Showing posts with label Alibaba. Show all posts

Tuesday, May 28, 2019

Alibaba eyes $20 B second listing in HK–report


SHANGHAI — Chinese e-commerce leader Alibaba Group is exploring a potential second listing in Hong Kong that could raise $20 billion as Beijing seeks to encourage its tech titans to list closer to home, a report on Tuesday said.

US-listed Alibaba is aiming to file an application in Hong Kong as early as the second half of 2019, Bloomberg News reported, quoting unidentified people with knowledge of the plans.


The listing would be intended to open up new funding channels for Alibaba, whose 2014 listing in New York raised $25 billion in the world’s largest initial public offering.

An Alibaba spokesperson declined comment to AFP, saying the company does not respond to “market rumours”.

China has sought to encourage its current and future big tech firms to list nearer to home, including via a planned technology board in Shanghai that would be China’s answer to the Nasdaq exchange.

The moves come with China and the United States locked in an escalating trade battle in which Washington has banned US companies from supplying technology to Chinese telecom and smartphone giant Huawei.

The Trump administration suspects Huawei has links to China’s military, which could allow Beijing to access sensitive data on global networks that use Huawei equipment.

Alibaba has capitalized on the Chinese consumer’s love of e-commerce to dominate the sector in China and become one of the world’s most valuable companies.


source: business.inquirer.net

Monday, July 25, 2016

Verizon to acquire Yahoo core assets for $4.8 billion


Verizon will soon be announcing its acquisition of Yahoo’s core assets for a mere $4.8 billion, a sad amount that the iconic company, once valued at $125 billion, is happy to settle for.

The sale only covers Yahoo’s core assets, which means the company will retain its stake in Alibaba and Yahoo Japan Corp., which is still estimated by Bloomberg to be worth $40 billion, reports Gizmodo.

Yahoo has a had a long history of missed opportunities that may have contributed to its current predicament. Back in 1997, it turned down the chance to buy Google, now valued at $530 billion, for a mere $1 billion and again in 2002.

It also passed up on buying Facebook for yet another $1 billion back in 2006. Facebook is now valued at $350 billion.

Current CEO Marissa Mayer, who took seat in 2012, was also unable to stop the corrosion that had eaten away at the company. During her time, Yahoo acquired 53 different companies of which 41 were eventually shut down.

Mayer is now expected to resign but is said to be taking home a very hefty severance pay of $57 million.  Alfred Bayle

source: technology.inquirer.net

Thursday, March 12, 2015

Chinese makers roll out wave of Apple watch lookalikes


BEIJING — A month before Apple Inc.’s smartwatch hits the market, China’s thriving copycat manufacturers are selling lookalikes, some openly advertised as Apple copies.

“Apple Smart Watch with Bluetooth Bracelet,” says one vendor on Alibaba Group’s popular Taobao e-commerce website.

Photos on the vendor’s page appear to be the real Apple Watch. It says features on the Chinese version include text messaging and a music player. It starts at 288 yuan ($45), or one-eighth the $349 price of the cheapest Apple Watch.

Alibaba, which listed on the New York Stock Exchange last year after a record initial public offering, has faced criticism in the past for hosting the sale of counterfeit goods. It says it has been taking steps to reduce the problem.

The flood of “me too” smartwatches reflects China’s mix of skilled electronics manufacturers and a growing consumer market for bargain-price style.

Most of the world’s personal computers and mobile phones are assembled in China. But this country’s own companies are only starting to develop design skills and the ability to create breakthrough products.

That has led to the rise of an industry known as “shanzhai,” or “mountain forts” — hundreds of small, anonymous manufacturers that quickly copy the design or features of popular foreign mobile phones or other products at a fraction of the price.

At least eight vendors on Taobao advertised watches as “Apple Watch” or “Apple Watch lookalike.” Most said they were compatible with Apple’s iOS or Google Inc.’s rival Android operating system.

One vendor jokingly used Chinese slang for a vulgar rich person, offering an “All-New Apple Tyrant Gold Mobile Phone-Supporting Watch” for 288 yuan ($45).

Eight vendors failed to respond to questions from The Associated Press sent through their Taobao accounts.

Asked whether it had taken action against any sellers, Alibaba said in a statement, “Alibaba Group is dedicated to the fight against counterfeits. We work closely with our government partners, brands and industry associations to tackle this issue at its source. We also utilize technology like data mining and big data to scrub our platforms of counterfeits.”

Alibaba faced controversy in January after a Chinese government agency accused the company of lax oversight and allowing vendors to sell counterfeit goods on Taobao. The two sides settled their dispute a few days later. The agency said its report had no legal force and Alibaba promised to tighten its oversight of vendors.

Apple, based in Cupertino, California, says buyers in China and Hong Kong can pre-order its watch beginning April 10, the same day it takes orders in the United States, Japan, Britain, France and Germany.

Most previous Apple products were released in China weeks or months after other markets. That fueled a trade in iPhones that were smuggled in for sale to gadget fans who were willing to pay a premium.

Apple lookalikes also are on sale in markets in the southern city of Shenzhen, “the mainland’s best place to shop for … hi-tech knockoffs,” according to the Hong Kong newspaper The South China Morning Post.

“Shanzhai Apple Watches in Shenzhen Less Than 1 Day After Launch,” said a headline on Internet portal Sohu.com.

source: technology.inquirer.net