More smartphone shoppers than ever took part in the huge bargain purchasing event. The Alibaba Singles’ Day Shopping Festival managed to break online and, especially mobile commerce record figures once again this year. Chinese shoppers used their mobile devices to grab great discounts leaving former records in the dust. The estimated total sales for the event continued to rise until reaching an estimated $19 to $25 billion. The event itself is practically designed to break the mobile commerce record of the year before. It is a combination between a bargain…
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Alibaba may be investing in Indian mobile commerce startup
Alibaba could have plans to invest some $500 million into Paytm E-commerce in India is booming, and this fact has not gone unnoticed by Alibaba. The Chinese company, which has managed to find significant success in the mobile commerce space, has plans to invest some $500 million in an Indian startup that has a focus on the mobile space. The service, Paytm, comes from One97 Communications, one of India’s leading e-commerce and digital payments companies. The service already has a strong following, and attention from Alibaba and other investors may…
Read MoreMobile commerce helps boost revenue for Alibaba
Alibaba quarterly financial results show that investments in mobile commerce have boosted the company’s revenue Alibaba has posted the financial results of its first quarter as a publicly traded company. The company is looking to highlight its changing investment strategy, which is showing more favor for mobile commerce and mobile marketing. Alibaba has become a very powerful name in the mobile space, finding significant success in the e-commerce sector and offering mobile-centric services that have become quite popular among Chinese consumers. Net income drops 39%, but revenue surges by 54%…
Read MoreMobile payments may impact Alibaba’s IPO
Alibaba takes the last steps toward initial public offering in the US Chinese retail giant Alibaba is currently undergoing something of a transformation. Last year, the company’s founder, Jack Ma, stepped down as CEO to embrace pseudo-retirement. Ma has continued to play a central role in determining Alibaba’s future, which is beginning to look quite mobile-centric. Alibaba is preparing to submit its first major filings in its initial public offering in the U.S. and speculation concerning how the IPO will fare is running rampant. Focus on the mobile space has…
Read MoreMobile commerce at Taobao breaks shopping records
The company managed to bring in sales of over $100 million in under an hour. After only one day into the annual Single’s Day sale in China, Taobao – the leading online commerce marketplace in the country – shattered all previous mobile commerce records, having brought in $164 million (RMB 1 billion) from over 14 million user accounts within the span of under one hour. By the time that 7:35am had been reached, they’d brought in $328 million in smartphone based purchases. In China, November 11, which is also known…
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