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E-commerce Asia

Alibaba’s Shopping Event Sets New Record, Unsurprisingly

By Juro Osawa
· · Source: The Information

Alibaba Group’s annual Nov. 11 Singles Day shopping festival, China’s equivalent of Black Friday and Cyber Monday combined, generated more sales than last year, according to the company. As of early Monday evening, the total volume of transactions handled by the e-commerce giant’s marketplaces had topped $31 billion with more than six hours left to go. When the day ended, the company said in a ...

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Venture Capital Asia
TikTok Valued at Around $60 Billion, As Deal Structure Emerges
By Kate Clark, Kevin McLaughlin and Jessica E. Lessin · Sept. 20, 2020 2:39 PM PDT

Walmart and Oracle are valuing the soon-to-be formed TikTok Global at between $50 billion and $60 billion, according to two people familiar with the deal, as key aspects of one of the most convoluted global tech deals in history take shape. 

Another key point: Zhang Yiming, the CEO of ByteDance, parent company of the China-based viral video app TikTok, could become the new entity's ...

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