Jack Ma Posts

Alibaba Buys 18% Stake In Sina Weibo For $586 Million

Chinese e-commerce company Alibaba has acquired an 18% stake in Sina’s Weibo.  Weibo is a Chinese microblogging service that is similar to Twitter.  The 18% stake will cost Alibaba $586 million.  Alibaba will have the option to increase their shares in Weibo up to about 30%.
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Jonathan Lu To Become The New CEO Of Alibaba

Alibaba Group has announced that Jonathan Lu Zhaoxi will be replacing Jack Ma as CEO starting on May 10th.  Ma, 48, will become executive chairman and will be involved in the company’s management development and business strategy going forward.
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Alibaba Hits 1 Trillion RMB In Sales, Becomes Largest E-Commerce Company In The World

Alibaba has sold one trillion RMB worth of goods in 2012.  That is the equivalent of $157 billion in gross merchandise volume (GMV).  This means that Alibaba has surpassed U.S. e-commerce companies Amazon.com and eBay combined.

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Alibaba Buys Back Stake From Yahoo! For $7.1 Billion

Yahoo! is selling half of their stake in the Alibaba Group back to them for $7.1 billion and most of the sales proceeds will be to their own shareholders. The discussions between Alibaba and Yahoo! has been ongoing for the last 2 years. Yahoo! bought 40% in Alibaba for $1 billion in 2005. Yahoo! will sell half of that stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock.
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Groupon Launches In China Under The Name Gaopeng.com

Groupon has launched in China under the name Gaopeng.com. The website will initially cover Beijing and Shanghai. Tencent Holdings and Yunfeng Capital are investors in Gaopeng. Yunfeng Capital is a private equity fund started by Alibaba.com Chairman Jack Ma. Some of Gaopeng.com’s competitors include Lashou.com and Meituan.com. [Bloomberg]

Alibaba.com Plans To Promote Wholesale Products On eBay

Alibaba.com Ltd. CEO David Wei said that the company is working on a new business strategy where clients can sell wholesale products world-wide to online e-commerce services like eBay.com.
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Alibaba Founder Jack Ma Launches Chinese Venture Fund

Jack Ma, the chairman of B2B trading website Alibaba.com Ltd. (1688.HK) and Target Media Holdings Ltd. founder Yu Feng have teamed up to start a private equity firm to invest in Chinese IT companies. Yun Feng Capital, the name of the new venture company, will have a value of about CNY10 billion ($1.48 billion). Ma is making the investments personally. Yahoo! Inc. (NASDAQ:YHOO) owns 39% of Alibaba Group.

Alibaba.com Planning To Launch $30 Million Marketing Campaign In U.S.

Alibaba Group is an Internet company that focuses on B2B, business management software, and online retail.  The company was started by Ma Yun (Jack Ma) around 1999.  The company is huge in China and plans to aggressively market themselves in the U.S.  They have even announced to be planning a $30 million advertising campaign starting Monday according to the WSJ.

Alibaba has also tripled their staff in the U.S.  Last quarter, the company’s net income dropped about 15% because of the company has been spending aggressively on marketing campaigns.  Alibaba even said that they plan to spend $200-$300 million on acquisitions by 2012.

Customers in the U.S. account for 15% of Alibaba’s visitors in their marketplace.  Yahoo! owns 44% in Alibaba.  And Alibaba.com operates Yahoo! China.  When Microsoft made the search engine deal with Yahoo!, Alibaba was left out.

[via paidContent]