The media and netizens alike have been chatting up a storm about the upcoming Alibaba IPO. Even though the offer has not been officially announced, estimates of the company’s potential value once it is listed on the Hong Kong Stock Exchange have literally doubled in the past six months.
Is this a repeat of the frenzy that accompanied Facebook’s IPO, which ended in crashing disappointment when the stock plunged after the sale? Or can Alibaba Group make a better fist of handling the market? Continue reading »
Shares in Sina Corp, the Nasdaq-listed Chinese online media group, rose nearly 21 per cent during trading on Monday after the company said it had agreed to sell 18 per cent of Weibo, its Twitter-like micro-blogging service, to Alibaba Group for $586m. The two came close to a similar deal five months ago. Now they have tied the knot. Continue reading »
You can almost hear the investment bankers salivating.
News on Tuesday that Jack Ma will step down as chief executive officer of Alibaba, the Chinese ecommerce giant that he founded, quickly had analysts and the tech industry buzzing with speculation that Ma is priming the company for an initial public offering.
If true, it would be, in the words of one analyst, “the mother of all IPOs”. Continue reading »
Turbulent times for Sina’s shareprice. The Nasdaq-listed Chinese internet company, which runs the Twitter-like Sina Weibo service, was slapped down more than 15 per cent on Friday, after putting out poor forecasts in its third quarter results.
But what’s this? Alibaba, owner of Chinese internet marketplace Taobao among other web properties, is eyeing up a 15-20 per cent stake in Sina Weibo, according to a Chinese media report. Sina was up on Monday in pre-market trading by as much as 10 per cent. Continue reading »
It’s been the season of high-profile phone launches. Except, sadly, for Acer and Alibaba. Their planned launch of a co-branded phone for Chinese consumers got cancelled at the last minute when Google objected to the version of Android on the phone.
What the last-minute cancellation – and some continued sniping between the companies – shows is how tricky it is to manage China’s booming mobile market. That’s true, apparently, even for Google, whose Android platform dominates in a big way. Continue reading »