"In his new role, Young Li will help us in consolidating all businesses of IBD including our key overseas markets of India, Indonesia and Russia. He will also take lead in product strategy and business for our strategic products like UC News," Alibaba Mobile Business Group President Jack Huang said in a statement.
Cainiao said a computing system, powered by the Internet, will analyse real-time orders and design the most efficient routes for its delivery fleet. The move will cut cost and reduce energy consumption.
Existing Paytm customers who do not want to move their Wallet to the payments bank will have to communicate the same before May 23.
Online and offline training programmes for the Small and Medium Enterprises (SMEs) would also be conducted by Alibaba in a bid to assist them with the company's platforms.
Flipkart, one of the largest ecommerce players, understands the nitty-gritties of the Indian market and eBay India can take a leaf or two out of Flipkart’s expertise in cracking the Indian market.
Paytm CEO Vijay Shekhar Sharma said that the company will be leveraging the e-commerce arm as its primary bet in the market and is not looking into expand its payment business just yet.
"Users in Canada will now be able to pay for their cell phone, cable, internet, electricity and water bills. In addition to this, users will also be able to pay for their insurance and property taxes by using the new Paytm Canada app," Paytm said in a statement.
Amazon India head Amit Agarwal has been elevated to the post of Senior Vice President, Amazon.
Even as townhalls have started at Gurgaon-based Snapdeal to soothe anxious employees, over 2,000 employees out of over 4300 have been estimated to be impacted by the company's retrenchment exercise this year. Moneycontrol digs deep to find out what led to the company to this juncture and the way ahead.
At a long awaited townhall on Wednesday, the remaining Snapdeal employees waited with bated breath on the status of their jobs even as the concluding retrenchment exercise has impacted over 2000 staffers.
The Alibaba-backed company had introduced the fee on March 8 after it found multiple users using its platform to get free credit by using credit cards to top up their mobile wallets and then transferring the money back to their bank accounts at zero transaction cost.
It won't be unwise to question whether the upcoming IPO of D-Mart might signal a market top as such a coincidence has occurred in the past.
The USD 255 billion Chinese group and Paytm have already invested together to build a dominant mobile-wallet payment business, now worth around USD 5 billion. Their smaller e-commerce unit is now being separated out to meet Indian regulations.
China's first internet-only insurer, whose current major shareholders include two of China's largest Internet companies - Alibaba Group's Ant Financial affiliate with 16 percent and Tencent Holdings Ltd with 12 percent â€“ is in early talks with potential investors, according to the sources who declined to be named.
Alibaba Singapore E-Commerce Pvt Ltd will invest USD 177 million in Paytm E-Commerce Pvt Ltd, the demerged unit of digital payments company, One 97 Communications that operates under Paytm brand.
Rakuten is still unsure whether it wants to venture into the country due to concerns about the slowdown in growth in India's e-commerce market. According to to RedSeer Consulting, the Indian e-commerce industry grew by a meagre 12 percent in 2016 compared to 180 percent in 2015.
According to a source privy to the developments, Snapdeal was expected to let go off about 500 employees from the overall technology team spread across Bengaluru and Gurgaon.
The Alibaba-backed company also announced the launch of Paytm Mall app, which will allow consumers to shop from 1.4 lakh registered sellers.
The sources said companies being considered for the shortcut could include Alibaba Group's Ant Financial affiliate, the world's most valuable financial technology company; Zhong An Online Property and Casualty Insurance, and security software maker Qihoo 360 Technology Co.
Digital wallet company MobiKwik will pump in Rs 300 crore this year to be used mainly on loyalty initiatives and expansion of user and merchant base.
The investment in Kakao Pay comes less than a month after Ant bought US-based payments operator MoneyGram for around USD 880 million and struck a partnership deal with Thailand's Ascend Money in November.
China's leading e-commerce firm Alibaba and a Shanghai-based state-owned retail conglomerate today announced a rare private-public strategic alliance to push forward partnership for creating a new shopping scenario.
This transaction is in line with Reliance Cap's strategy to stay focussed on its financial services business. The company has been hinting at a possible exit from all its non-core assets. It had earlier sold its telvision and radio businesses.