The Alibaba giant is born
- Alibaba Group Holding Limited is a Chinese e-commerce giant that provides "consumer-to consumer, business-to-consumer, business-to-business'' sales services through online websites.
- The company was founded in 1999 by Jack Ma (richest man in China).
- The company which is the fastest growing online portal, also provides online payment services along with a retail search engine and offers data-centric computing services.
Largest e-commerce site in the world
A survey by United Nations Conference on Trade and Development (UNCTAD) ranked the Alibaba Group as the "world's largest e-commerce company by gross merchandise value-volume of goods and services being transacted", followed by Amazon and eBay.
Alibaba gets 18% stake in Chinese Weibo
- Alibaba Group Holding Ltd. bought an 18% stake in Sina Corp's Weibo for $586 million.
- This deal would connect China's biggest e-commerce company with the nation's largest Twitter-like service.
- Alibaba had the option of increasing its stake to 30% at "a mutually agreed valuation" later.
- The companies said they will also work on "user-account connectivity, data exchange, and online payment and marketing."
Alibaba's stake in Weibo increased
As of 2015, Alibaba holds a 32% stake in Weibo.
Alibaba on an investment spree
- In order to strengthen its media presence, Alibaba made 4 sizeable investments between March-April 2014.
- It first invested $280million in Tango, a US-based messaging app.
- It paid $800million for the Hong Kong-based ChinaVision (later renamed as Alibaba Pictures Group).
- In April 2014, Alibaba invested $1.05billion along with associates in Wasu Media, a digital content provider. $1.22billion was invested in Youku Tudou: a video-streaming site.
Alibaba buys 2.4 billion of Enlight media shares
- Furthering its push into show business, the Alibaba group bought a $382 million stake in Beijing Enlight Media Co., a Chinese production company.
- Enlight Media declared that it had sold "2.4 billion yuan of shares to Hangzhou Ali Venture Capital Co., a subsidiary of Alibaba Group."
- Alibaba said that it hoped to draw more users and generate revenue through such media acquisitions.
Alibaba building its news network
- In May 2015, Alibaba made its foray into the news-world by investing in Beijing Youth Community Daily.
- Subsequently, it acquired a Bloomberg-like financial news and data provider China Business Network in June 2015.
- Continuing the trend, Alibaba launched Wujie Media, an online news provider, in partnership with financial magazine Caixin and the Xinjiang government in September 2015.
Alibaba acquires HK's South-China Morning Post for $266 mn
- Alibaba Group Holding Ltd invested $266 million in a deal to acquire SCMP Group Ltd's South China Morning Post and its other media assets.
- SCMP Group Ltd said an "uncertain" future for conventional publishing was the key rationale behind the sale.
- This all-cash acquisition transfers control of the 112-year-old English newspaper to Chinese billionaire Jack Ma from Malaysian tycoon Robert Kuok.
Alibaba steps into Hollywood
- Alibaba Group Holding Ltd.'s Jack Ma and the highest grossing director of Hollywood, Steven Spielberg today entered a partnership.
- This partnership of Alibaba Pictures Group Ltd. and Amblin Partners will bring together companies from the East and West to produce and finance movies.
- This way, Spielberg will reach out to the Chinese box-office while Alibaba Pictures will gain a seat on Amblin Partners' board.
Alibaba doubles spending on media assets
- Alibaba Group Holding Ltd. stepped up its investments in the entertainment industry by creating the Alibaba Digital Media and Entertainment Group.
- This media empire will include video website Youku Tudou, web browser UCWeb, Alibaba Pictures Group Ltd. and Alibaba's gaming, literature, music and digital business units.
- This consolidation decision is a step towards keeping the behemoths earnings reports transparent.
Alibaba beats estimates with strong growth
- Alibaba beat analysts' estimates by posting a 55% increase in Q2 earnings, showing strong growth in media and entertainment.
- Revenues from the company's core-business grew 41% from last year; it is seen as a yardstick for both the company and the health of the Chinese retail sector.
- Their media and digital entertainment business recorded a jump of 302% from last year.
Alibaba Pictures to buy TicketNew?
- Alibaba Pictures, the movie and TV content arm of Alibaba is reportedly in talks with Chennai based Orbgen Technologies Pvt. Ltd, which runs ticket booking service TicketNew for an acquisition.
- Sources said Alibaba seeks to invest $35 million for a 70-75% stake in TicketNew.
- Sources said that "the discussions are at an advanced stage and a deal will close soon."