Alibaba shatters all records with the world’s largest 24-hour shopping event
Chinese e-commerce giant Alibaba sets a colossal record for Singles Day with more than $30 billion in sales. Singles Day is a Chinese shopping holiday popular among young Chinese people. GMV, a figure that shows sales across various platforms of Alibaba, surpassed the mark of $38 billion on Monday. Alibaba offered huge discounts with massive promotions. Huawei’s Mate 30 Pro smartphone and Apple’s iPhone 11 Pro were among the top-selling products
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CNBCRelated Articles
After TikTok, Trump indicates banning Alibaba, other Chinese firms in US
WASHINGTON: US President Donald Trump has indicated that he was looking to ban other Chinese-owned companies, including e-commerce giant Alibaba in the United States, days after signing an executive order targetting TikTok's parent company, ByteDance, an American TV channel reported. These banned clones include Tiktok Lite, Helo Lite, SHAREit Lite, BIGO LIVE Lite and VFY Lite.
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Indiatimes
Jack Ma to resign from SoftBank board
SoftBank announced that the co-founder of Alibaba, Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son. The departure of Ma, who retired as Alibaba’s executive chairman in September, comes as he pulls back from formal business roles to focus on philanthropy
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CNBC
As coronavirus restrictions drag on, Americans shift online spending from stockpiling to entertainment
In addition to the overall boom in e-commerce spending, sales data reveals that following an initial stockpiling of goods, many online shoppers have shifted their focus to entertainment products such as books and games as they adjust to the new normal of life in quarantine.
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Google
Jack Ma tops the list of China’s most influential business leaders
Fortune China released a list of China’s 50 most influential business leaders in 2020 and Jack Ma ranked first ahead of tech giants like Ren Zhengfei (CEO of Huawei). Leaders were ranked not only on the basis of their company’s success but the leadership qualities to lead the company through the crisis and find a new direction. The CEO of Alibaba showed great strength during the coronavirus crisis
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Chinaorg