Tag: Alibaba

Alibaba tech company to Invest over $15billion in global initiative

Becky

Alibaba Group today revealed its plans to invest more than $15 billion over the next three years into a global research and development initiative called Alibaba DAMO Academy. The Chinese tech giant said the program, which it is currently recruiting 100 researchers, will help it reach its goal of serving two billion customers and creating 100 million jobs by 2036, while also “increasing technological collaboration worldwide.” Discovery, adventure, momentum and outlook (DAMO) Academy  will be led by Alibaba Group chief technology officer Jeff Zhang and start by opening labs in seven…

Share this
Read More

What’s next for Yahoo’s future of its core Internet Business

Staff Writer

WHAT’S NEXT? Yahoo is preparing to discuss the future of its core Internet business and its stake in Alibaba, the Chinese e-commerce giant. “Yahoo’s management has faltered in its efforts to turn around its core business and it faces investor pressure to take more dramatic moves, though the people familiar with the plans say no transaction is assured,” the Wall Street Journal reports. “If Yahoo decides to sell its core Internet business, it could put into motion a deal for the Alibaba stake as well as its 35% stake in…

Share this
Read More

Alibaba IPO Pours Shares Into Shrinking Pool of Stock

Staff Writer

Alibaba Group’s (BABA) initial public offering was a success by any measure. At $25 billion, it was the largest in history. Investors were so eager to add the Chinese e-commerce giant to their portfolios that the shares soared 38 percent on their debut, the biggest first-day jump for an IPO of at least $10 billion, according to data compiled by Bloomberg. When trading ended on Sept. 19, the company had a market value of $231 billion, more than Amazon.com’s (AMZN) and EBay’s (EBAY) combined. Some investors warned that the clamor for Alibaba shares could trigger a…

Share this
Read More