(BLOOMBERG) -- Alibaba Group Holding Ltd.’s Lazada Group is creating a new role to lead payments in Southeast Asia for the first time, and tapped a former Alipay executive for the position, according to people familiar with the matter.
Dayong Zhang, former general manager of Southeast Asia for Ant Group Co.’s Alipay, will become Lazada’s head of payments, underscoring the e-commerce company’s strategic move to generate growth from the business, according to the people, who asked not to be named.
Lazada is seeking to take on Southeast Asian internet rivals such as Grab Holdings Inc and Sea Ltd, which have been aggressively pushing their payment products. The region’s payments market is expanding rapidly on the back of rising demand for online shoppRead More »
Friday, 11 November 2016 SHENZHEN: Chinese e-commerce giant Alibaba Group Holding said it racked up more than US$5bil (RM22bil) in transactions in the first hour of its annual ‘Singles’ Day’ sales blitz on Friday (Nov 11) – a third more than in the first hour of last year’s spree. The …Read More »
Thursday, 3 November 2016 BEIJING: Chinese e-commerce giant Alibaba’s sales soared 55% in the last quarter, thanks in part to a more than doubling of revenue from cloud computing. Alibaba’s quarter earnings report also showed a rise in use despite a slowing economy in China. The year-on-year growth in group …Read More »
Thursday, 28 July 2016 WARSAW: Chinese e-commerce group Alibaba, US online retailer eBay Inc, and private equity firm CVC Capital Partners are among the bidders for Eastern Europe’s No 1 auction website Allegro from South Africa’s Naspers, sources said. A deal worth between €2bil (RM9mil) and €3bil (RM13.51bil), is …Read More »
Monday, 24 July 2017 Beijing – Yang Qianqian holds out her smartphone to scan a barcode on the mobile of a vendor selling fresh fruit and vegetables at a bustling outdoor market in Beijing. The dance student is part of an explosion in the use of mobile payment platforms …Read More »
Saturday, 22 July 2017 NAIROBI: China’s Alibaba expects its revenue to expand by 45% to 48% in its fiscal year from April as more small businesses join its online community in search of sales, executive chairman Jack Ma said on Thursday. Alibaba had revenue of US$22.99 billion in its year …Read More »
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Saturday, 1 July 2017 Chinese e-commerce company Alibaba Group Holding Ltd would launch a product mimicking Amazon.com Inc’s Echo next week, according to a source familiar with the matter. Amazon Echo, launched in 2014, is a speaker which one can leave on all day and give voice commands to, similar …Read More »
Thursday, 29 June 2017 KUALA LUMPUR: Alibaba Group Holding Limited will invest approximately US$1 billion to increase its stake to approximately 83% in Lazada Group, the leading e-commerce platform in Southeast Asia. In a statement today, Alibaba said the transaction demonstrated the continued success of Lazada’s business and Alibaba’s …Read More »
Tuesday, 13 June 2017 BEIJING: Chinese e-commerce giant Alibaba Group Holding Ltd on Monday said it is launching new sales channels in Singapore, Malaysia, Hong Kong and Taiwan as China’s deep-pocketed e-commerce firms vie for new users in the region. The new service, Tmall World, will allow overseas Chinese users …Read More »