Alibaba, which was once a symbol of Chinese e-commerce success, has faced a series of challenges that have tarnished its reputation. In 2021, the company was targeted in a government crackdown on China’s largest technology firms, resulting in a record $2.8bn fine for monopolistic practices. Co-founder Jack Ma took a step back from the spotlight, causing further concern.
Despite this setback, competitors like PDD and ByteDance have excelled in meeting the needs of budget-conscious consumers and adapting to new trends like “social commerce.” As a result, Alibaba’s market value significantly declined, dropping below $170bn in late 2022.
In an effort to combat this downward trend, Alibaba made the strategic decision to split into six separate entities in March of the following year. These included a logistics business (Cainiao), a cloud computing division (Aliyun), an international e-commerce arm (featuring platforms like AliExpress), a digital services company (including food delivery app Ele.me), and a small media group. Alibaba proper retained its domestic retail operations, focused on Taobao and Tmall, which generate the majority of the company’s revenue.
The Ohio Farm Bureau Health Benefits Plan is helping farmers and small businesses with employees…
Keven Peuvrel arrived at his construction site in Courthézon, Vaucluse, with the expectation of finding…
In this episode of The Tenant, we are introduced to Natasha Alia, a content creator…
Questor Technology Inc., trading on the CVE as QST, recently had their second-quarter 2024 EPS…
Monday's newspapers are abuzz with the latest transfer rumors and top stories. The Daily Mirror…
The dating app industry is rapidly evolving, with predictions that AI-powered dating concierges could soon…