Jack Ma, Alibaba’s founder, admitted on Sunday that he had never once used Taobao, the ebay-like flagship website for the ecommerce company he will be taking public later this year, writes Charles Clover and Ma Fangjing.
The odd sounding admission came in the middle of a rambling commencement speech to graduates of Tsinghua University on Sunday, in which he highlighted his humble origins and lack of professional experience. He needs to keep his emotional distance from his products, he said, so that he can make decisions about them objectively. And that apparently means not knowing how they work. Read more
After the correction in tech stocks in recent weeks, investors would be forgiven for being surprised by the performance of two tech IPOs in New York this week. Read more
Alibaba, which filed for its US IPO on Tuesday, is frequently called the Amazon or eBay of China. But while there may be similarities in their business model, the online shopping experience for customers can be quite different indeed.
Here, a look at some of the things one finds on Alibaba’s various shopping platforms, how they differ from each other, and some of the ways in which they are vastly different from their western counterparts. Read more
Alibaba’s shareholder list contains some well-known names from around the globe — from China and Japan to Singapore, Silicon Valley and Russia. Here is a breakdown and guide to the biggest names to profit from the listing. Read more
The rollout of Apple’s iPhone by China Mobile to 300 cities this year is going to be slower than many analysts expected – contributing to its outlook disappointing on Monday and its shares falling more than 7 per cent at the open today.
But new estimates for the rollout of 4G services promise rich pickings for Apple later in 2014 and beyond. Read more
China’s mountainous Guangxi Zhuang Autonomous Region has little of the wealth and fast development of the places in China foreigners have already heard of, but on one key measure of economic development, Guangxi is winning — the growth rate of spending online.
Online shopping throughout China is expanding fast – far faster than the US and Europe – but it’s growing particularly fast in China’s poorer regions like Guangxi, where malls are sparser and the number of people getting online for the first time is greater. Read more
Shares in Hong Kong-traded Chinese electronics giant Haier are soaring, thanks to Alibaba.
FastFT reports that Haier said earlier Monday it had teamed up with Alibaba to develop its logistics business. Read more
A customer celebrates buying two new iPhone 5s at the Wangfujing flagship store in Beijing
When Xiaomi, a popular Chinese smartphone maker, overtook Apple’s market share in China the second quarter, the shift prompted a double take by consumers and investors who had never heard of the small but growing brand.
The ascent was short-lived. Apple’s two new iPhones have proved popular in China, enabling the US company to shoulder past Xiaomi in the market share rankings for the three months ended in September.
But Apple and everyone else are still miles behind the clear market leader — Samsung, which now has a fifth of China’s smartphone market, up from 14 per cent in the third quarter of last year. Read more