Austin Li Jiaqi, also known as the Lipstick King, made record sales during a promotion for China's Single's Day, a shopping event akin to Black Friday.
The mass preorder event was held on Taobao on October 20, in the run up to the 11.11 Singles Day Shopping Festival.
Ma is reportedly in Spain where he will embark on a study tour on agriculture and technology related to environmental issues.
Alibaba stock was catching the attention of retail investors Thursday, according to a sentiment tracker from Swaggy Stocks.
Warren Buffett's business partner ramped up his bet on the Chinese e-commerce giant despite mounting regulatory threats.
Alibaba will also prohibit the sale of cryptocurrencies themselves and ban any tutorials, strategies, and software for obtaining digital assets.
"I believe very strongly that Chinese tech will weather the current rough storms," Fred Hu of Primavera Capital said on a podcast hosted by Goldman Sachs.
Six of the 10 billionaires who have lost the most wealth this year are Chinese business figures, including top names at Pinduoduo, Evergrande, and Tencent.
The study by Approve.com compared the market cap of the 50 biggest public companies alongside their average annual growth.
Investors in Chinese stocks have historically been rewarded with long-term outperformance, said Allianz Global Investors.
Chinese regulators had ordered Ant Group to restructure before allowing the fintech giant to complete its record-breaking $35 billion IPO.
Some international investors seemed to be wading back into Chinese tech stocks on Tuesday, with big-names like Cathie Wood buying the dip.
Jeremy Grantham, Bill Miller, Charlie Munger, and Steve Cohen's portfolios were potentially hit by Alibaba's plunging stock price as well.
On the tech giant's second-quarter earnings call, Tencent's president said he expects more regulatory changes but the company will navigate them.
TSMC has soared as overwhelming global demand for its chip components has hit industries from autos to gaming.
Softbank head Mayoshi Son is known for having a huge appetite for investment risk, but China's moves to curb its tech sector have made him queasy.
Several NFTs already have listings on the Alibaba Auction platform, but bidding will not begin until next month, SCMP reported.
The proposed regulations would limit the way companies can attract consumers and are allowed to analyze user and competitor data.
Warren Buffett's right-hand man and Berkshire Hathaway's vice-chairman has made a fortune for the publisher and legal-software provider.
Retail investors have turned into dip-buyers, even in risky Chinese stocks, data shows.
Retail investors have turned into dip-buyers, even in risky Chinese stocks, data shows.
Alibaba founder Jack Ma has been spared some of the worst losses recently, but that is in part because his fortune was crimped by an earlier crackdown.
A broad index tracking US-listed Chinese stocks has lost 30% of its value this year alone.
The billionaire investor's company plans to sell at least some of its 2.8% stake in Paytm when the Indian digital-payments startup goes public.
Beijing continues to clamp down on monopolies among big tech, blocking plans by Tencent to merge China's top two video game streaming websites.
LinkDoc, which filed for its IPO last month, was due to price its offering after the US market close on Thursday.
China's internet regulator said it wants to prevent "national data security risks" with its review of Didi.
The stock was the top order from retail traders on Fidelity, beating Exela Technologies and AMC Entertainment.
Robinhood has been the poster child of the commission-free trading movement that has drawn a new generation of investors into the stock market.
Parameswaran is also bullish on smaller tech companies directly competing with the likes of Amazon. For smaller players, there are "riches in niches."
An Alibaba exec said Chinese billionaire Jack Ma is lying low after regulators pulled Ant Group's $35 billion IPO and fined Alibaba $2.8 billion.
Gore's Generation and Buffett's Berkshire Hathaway both invested in Aon last quarter. Generation and Munger's Daily Journal both bought Alibaba too.
Jack Ma was reportedly seen smiling on a bus with other executives, marking the second time he's appeared publicly since the pulled IPO in October.
Chinese consumers are boycotting western brands for criticizing alleged forced labor cotton practices in the Xinjiang region in China.
Ren Zhiqiang, a retired real-estate tycoon, went missing in March after accusing the Communist Party of mishandling the coronavirus pandemic.
Ant Group had been valued at nearly $300 billion by Fidelity ahead of its anticipated IPO, which was ultimately shelved late last year.
Jack Ma was seen at a videoconference meeting of the Russian Geographical Society with Russian President Vladimir Putin on Wednesday.
China isn't just cracking down on Jack Ma - the Communist Party is reining in billionaires as the wealth gap grows even wider.
Warren Buffett's right-hand man probably heard from Li Lu, the fund manager who introduced Munger to BYD and has owned Alibaba shares in the past.
CEO Daniel Zhang said Alibaba doesn't expect any material impact from changes made in arrangements with merchants after the imposition of the fine.
Jack Ma's company accepted the huge penalty levied by Chinese regulators on Saturday. The billionaire mogul has been under increased scrutiny for some time
Warren Buffett's right-hand man is the newspaper publisher's chairman. The Chinese e-commerce group is now its third-biggest holding.
Despite strong volatility in the sector and recent share price tumbles, Ark Invest CEO Cathie Wood backs "disruptive innovation platforms" in China.
Chinese tech giants fell on Wednesday after reports said the PBOC is considering establishing a joint venture to oversee companies' data collection.
Simon Hu, the CEO of Jack Ma's Ant Group, resigned for personal reasons, Bloomberg first reported.
Flight records show the billionaire founder of Alibaba and Ant Group has mostly been at home, in Beijing, or in Hainan, the Financial Times reported.
He lost the top spot "after China's regulators reined in Ant Group and Alibaba on anti-trust issues," the Hurun Global Rich List said.
Jack Ma was seen playing golf at a 5-star golf resort in Hainan, China, in recent weeks, per Bloomberg. The island province of Hainan is known as “the Hawaii of China,” thanks to its tropical climate, high-end beach resorts, and golf courses. Surfing, luxury shopping, and yachting are popular activities […]
Jack Ma was spotted playing golf at the Sun Valley Golf Resort, sources told Bloomberg. The sources described the Alibaba and Ant Group founder as a golfing novice. Ma hasn’t been seen in public for more than two months amid a crackdown by Chinese regulators. Visit the Business section of […]
Alibaba founder Jack Ma and Softbank CEO Masayoshi Son send each other drawings to keep in touch. Their friendship stretches back years, and both have served on the board of each other’s companies. Son said they have kept in contact amid Ma’s Ant Group IPO bust and subsequent rumoured disappearance. […]
Billionaire Jack Ma’s Ant Group plans to restructure itself to satisfy Chinese officials, per the WSJ. Ma, a larger-than-life figure, criticised China’s financial regulatory system last year. He now appears to have been brought to heel by Beijing. Visit Business Insider’s homepage for more stories. Ant Group, the financial-services company […]
Ant Group has submitted a plan to restructure itself as a financial holding company, sources familiar with the matter told The Wall Street Journal. This means it would be overseen by China’s central bank and would face stricter regulations. Chinese regulators ordered the restructure, the sources said. Visit Business Insider’s […]
Alibaba rose 7% after Jack Ma resurfaced in a videoconference on Wednesday after weeks of laying low. The billionaire founder could be seen addressing 100 rural teachers across China. Ma seemed to embrace themes promoted by the ruling Communist Party, according to Bloomberg. Sign up here our daily newsletter, 10 […]
Jack Ma appears to have resurfaced in a videoconference call on Wednesday after weeks of speculation on his whereabouts, per Chinese publication the Global Times. During the call, which reportedly occurred on Wednesday, the Chinese tech mogul spoke to 100 rural teachers from across China. Before the virtual appearance, the […]
A delivery driver set himself on fire following a pay dispute with a partner of Alibaba subsidiary Ele.me, The Financial Times reported Tuesday. “I want my blood and sweat money back,” driver Liu Jin said in videos of the incident. He now has medical bills of more than 1 million […]
Alibaba plans to raise up to $US8 billion through a bond sale this month, at a time when billionaire Jack Ma’s empire faces a regulatory crackdown, Reuters reported. The e-commerce group aims to raise at least $US5 billion, but it could fetch more, according to a Reuters source. Proceeds from […]
Financial traders around the world are trying to get the scoop on Alibaba billionaire Jack Ma’s whereabouts, after media reports the tycoon hasn’t been seen in public for two months. Traders are using their access to the powerful Bloomberg Terminal, which shows real-time financial data, to check out his profile, […]
China’s regulators are pushing for Jack Ma’s Ant Group to share its consumer data, the Wall Street Journal reported Tuesday. Officials and government advisors familiar with the matter told the Journal the regulators see Ant Group’s data collection as giving it an unfair competitive advantage over other lenders. Chinese regulators […]
Chinese billionaire Jack Ma has not been seen in public since October. Ma, who founded Alibaba and Ant Group, clashed with Chinese regulators, who cracked down on his companies after he criticised China’s financial regulatory system. He was replaced on the final of a TV show where he was due […]
Alibaba and Ant Group founder Jack Ma is not missing as was speculated, according to CNBC reporter David Faber. Faber said Tuesday that Ma hasn’t been “captured” or “taken,” but is instead being less visible on purpose and is likely in Hangzhou, where Alibaba is based, according to a source. […]
Yahoo Finance reported Sunday that Jack Ma, the Chinese billionaire who founded Alibaba and Ant Group, hasn’t been seen publicly in more than two months. CNBC’s David Faber reported Tuesday morning Ma is being “less visible, purposefully,” but that the businessman hasn’t gone missing. Late last year, Chinese regulators launched […]
Alibaba fell as much as 3% on Monday as its founder Jack Ma’s prolonged absence from the public view raised eyebrows. Ma has not been seen in public in more than two months and he was abruptly replaced as a judge on an African entrepreneurship TV show late last year. […]
The Chinese billionaire Jack Ma is thought to be missing, Jessica Yun reported for Yahoo Finance on Sunday. The Alibaba and Ant Group founder has not been seen publicly in more than two months, and he was abruptly replaced as a judge on the African talent show he founded. Chinese […]
Chinese regulators have ordered Ant to overhaul its business and “return to its payment origins” as the nation continues to crack down on the fintech company. Officials in a meeting over the weekend accused the company of “turning a blind eye” to regulatory requirements. The news comes after China pulled […]
US-listed shares in Alibaba fell by 7% on Thursday, after Chinese regulators said they had launched an anti-trust investigation into the country’s biggest technology company. US-listed shares in Alibaba fell in premarket trading, after China regulators opened probe into the e-commerce company. It echoed the losses overnight in Asia, where […]
Chinese regulators announced measures to crack down on Jack Ma’s Alibaba and Ant Group on Thursday. Beijing will investigate e-commerce site Alibaba, co-founded by Ma, over alleged anti-monopolistic practices, and urge fintech Ant Group to implement stricter financial regulations, regulators said. Ant Group’s IPO, which would have been the world’s […]
China has demanded that the nation’s tech companies process stolen data for Chinese intelligence agencies upon request, according to a Wednesday report from Foreign Policy. The outlet spoke to 36 US officials who said the arrangement represents the “commercial wing” of the Communist Party. Authorities are able to view data […]
Imran Khan told CNBC on Tuesday that the recent post-IPO stock pops including those of Airbnb and DoorDash represent an “epic level of incompetency” from the bankers who underwrote the stocks. The former banker, who led Alibaba’s IPO in 2014, said that it’s the job of the bankers to understand […]
The chances of an Ant Group initial public offering in 2021 look decreasingly likely as China looks to overhaul rules and regulations related to the fintech industry, according to a new Bloomberg report. The delayed public debut of Ant Group would be a blow to investors who were poised to […]
E-commerce is a growing sector of retail, as well as a burgeoning market for individuals looking to make money by selling products online. Dropshipping is a form of e-commerce selling in which the seller doesn’t have to invest in inventory, so the start-up costs are low. Dropshipping can be done […]
Alibaba CEO Daniel Zhang said Monday that China’s new regulations to prevent the formation of internet monopolies are “timely and necessary.” China announced new rules in early November that could tighten restrictions on tech companies, like Alibaba, including preventing them from sharing sensitive user data and from banding together to […]
Investing legend Ray Dalio’s hedge fund poured millions into Alibaba, Walmart, and Coca Cola, and sold some positions in Chinese equity ETFs in the third quarter this year. The billionaire also invested heavily in McDonald’s, Abbott Labs, Procter & Gamble, and Johnson & Johnson. While the fund’s largest withdrawal was […]
Ant Group’s historic $US37 billion IPO was personally halted by Chinese President Xi Jinping after boss Jack Ma criticised government leaders, the Wall Street Journal reported. A week before the Chinese fintech was set to go public, Ma made incendiary comments that didn’t go down well with the president or […]
Alibaba said it passed $US74 billion in sales on Singles Day this year. The major shopping holiday is usually bigger than Black Friday and Cyber Monday combined. The biggest shopping day in the world leads to a massive logistics operation involving millions of people. Visit Business Insider’s homepage for more […]
Alibaba’s Singles Day sales reportedly surpassed $US74 billion, nearly double the previous record. The major shopping holiday is usually bigger than Black Friday and Cyber Monday combined. Alibaba says strong early numbers indicate that demand in China is bouncing back after the coronavirus. Visit Business Insider’s homepage for more stories. […]
Alibaba’s blowout Singles Day sales wasn’t enough to stem investor concerns of increased regulatory pressure as shares slid as much as 9% on Tuesday. The company’s extended Singles Day sales event registered more than $US56 billion in sales in its first 10 days and 30 minutes of the event, according […]
The Chinese fintech company Ant Group was ready to shatter records with a $US37 billion IPO on November 5, with a reported estimated valuation close to $US300 billion. The IPO was touted as the largest in history – projected to sweep past the world’s biggest banks – and it positioned […]
Ant Group’s highly IPO could be delayed up to six months, the Financial Times reported Thursday. A lengthy delay could reduce the Chinese fintech company’s valuation as regulatory pressure increases from the Chinese government. Ant Group was set to go public this week in a record $US35 billion IPO that […]
Ant Group’s historic $US35 billion IPO is garnering unprecedented interest from retail investors in Shanghai and Hong Kong. Jack Ma’s financial services company took in more than $US3 trillion in orders from individual investors across its dual listings in Hong Kong and Shanghai. Roughly 19.1 trillion yuan (2.9 trillion) worth […]
Alibaba Group co-founder Jack Ma is set to become the 11th-richest person in the world. Alibaba’s financial services company Ant Group plans to go public in November. Based on share pricing for the IPO, Ma’s fortune will jump to $US71.1 billion, moving him up six places on Bloomberg’s Billionaires Index. […]
Chinese billionaire founder Jack Ma said the lawmakers that enforce global financial regulations are like “an old people’s club” and the existing rules aren’t well-suited for Chinese tech innovation. “We can’t use yesterday’s methods to regulate the future,” Ma said at a Shanghai conference according to The Financial Times. The […]
Ant Group will raise $US34.5 billion through a dual initial public offering in November, making it the biggest-ever IPO. The financial services giant aims to evenly split its 1.67 billion-share debut across the Hong Kong and Shanghai exchanges. Shares will be priced at 68.8 yuan ($US10.27) each in Shanghai and […]
Jack Ma’s ANT Group has received approval from Chinese regulators for its Hong Kong part of its IPO, CNBC reported Monday. A confidential source told CNBC a hearing with the Hong Kong Stock Exchange is scheduled to take place Monday. The company filed for an IPO in Hong Kong and […]
Zhong Shanshan, who owns China’s largest bottled water company Nongfu Spring, has become the country’s richest person. His fortune trebled after Nongfu was listed on the Hong Kong Stock Exchange earlier in September. He knocks Alibaba’s Jack Ma, who spent most of the last six years at the top of […]
Jack Ma’s Ant Group seeks to raise its funding target to $US35 billion through its initial-public-offering, according to Bloomberg. Ant, which is Alibaba’s fintech arm and China’s dominant mobile-payments service, has raised its valuation to $US250 billion from $US225 billion. Previously, the company expected to raise $US30 billion. When Ant […]
YTO Express Holdings soared 259% on Wednesday after Alibaba increased its investment stake in the Chinese delivery firm by nearly $US1 billion. Alibaba increased its holding from 10.5% to 22.5% in YTO Express, which is one of China’s largest logistics-services providers. The parent company of YTO Express Holdings, YTO Express […]
Ant Group’s upcoming IPO aims to raise a record $US30 billion and could bring first-time tech fundraising to the highest level since 1999. Should demand for the offering hold up, Ant’s debut could bring global first-time stock sales to more than $US57 billion, according to data collected by Bloomberg. The […]
Jack Ma’s Ant Group filed for an initial public offering in Hong Kong and Shanghai on Tuesday, aiming to speed up its move into the financial services industry. The company is targeting a $US225 billion valuation and could raise as much as $US30 billion in the deal if demand holds […]
SoftBank on Tuesday reported a $US12 billion quarterly profit. The results buck a trend of heavy losses at the prolific Japanese tech conglomerate, which declined to disclose a key financial metric. CEO Masayoshi Son told investors the company was now in “defence mode” and hoarding cash. As typical of his […]
Secretary of State Mike Pompeo on Wednesday announced a broad program to crack down on Chinese apps and services. The “Clean Network” program will block “untrusted” Chinese apps from app stores; stop Chinese phone companies from pre-installing US apps; keep US data off Chinese cloud services; and guard undersea cables […]
Ant Group, an affiliate fintech company of Chinese retail behemoth Alibaba, has been gearing up to go public with an anticipated valuation of around $US300 billion. The company was formed in 2014 to run Alipay, a ubiquitous digital payment service used by millions of Chinese shoppers. Ant Group was initially […]
Ant Group, the Chinese fintech founded by billionaire Jack Ma, is planning to go public in what could be one of the largest IPOs ever. In a press release issued on Monday, Ant said it plans to go public via a dual-listed IPO in Shanghai and Hong Kong. The company […]
Chinese fintech giant Ant Group is preparing a dual public offering in Shanghai and Hong Kong, the company announced Monday. Ant is the parent company of Alipay, and was founded by billionaire Alibaba cofounder Jack Ma. Its public offering would bypass a New York listing as tensions rise between the […]
The IPO market is slowly recovering after its coronavirus slump, but no recent deal stacks up to the record-breaking debuts of the 2010s. Seven of the top 11 IPOs took place in the 2010s, when unicorn startups and industry giants leveraged insatiable investor demand to rake in billions. Here are […]
Beyond Meat will sell its plant-based patties in grocery stores in China for the first time, in collaboration with Chinese tech giant Alibaba. The company’s meat-alternative products will be rolled out in 50 Freshippo stores across Shanghai from July 4 onwards. Freshippo is known as Hema in China. This is […]
SoftBank’s Masayoshi Son is stepping down from the board of Alibaba, he announced in a shareholder call on Wednesday. Son was one of Alibaba’s earliest backers, making a $US20 million investment in the company two decades ago that was worth $US60 billion by 2014. He said he will remain a […]
Many brands are developing new technology to help fight the spread of COVID-19. Apple and Google teamed up to create a contact-tracing feature for their smartphones, while Facebook designed a map that shows all the people who have reported COVID-19 symptoms. Alibaba used its artificial-intelligence technology to help health professionals […]
Alibaba is launching a new set of e-commerce tools designed to help struggling American small business owners to increase online sales during the coronavirus outbreak. The resources include updated payment terms that allow Alibaba users to wait up to 60 days to pay invoices, a platform that better streamlines shipping […]
Salesforce CEO Marc Benioff spearheaded a sprawling effort to source medical gear for US healthcare providers, according to The New York Times. The billionaire roped in Alibaba, FedEx, Walmart, and Uber to find and deliver the supplies, and even U2 singer Bono offered to help. Benioff’s team spent north of […]
Provinces and cities across China are slowly lifting their strict coronavirus lockdown measures. Wuhan, where the coronavirus broke out, just lifted its lockdown. But as people resume their lives, local authorities are trying to prevent further spread by controlling citizens’ movements via smartphone software installed in WeChat and Alipay, two […]