Alibaba Scores Record Growth And Beats Estimates As Mobile Revenue Soars, Topping Desktop For The First Time

Alibaba recently unveiled its Q2 2016 results, with the marketplace showing tremendous growth as revenue from its mobile users surpassed that of desktop users. The e-commerce vendor’s revenue rose to RMB 32.2 billion ($4.8 billion), placing it 59 percent higher than last year. The growth itself is formidable, being the highest since Alibaba initiated the largest U.S. IPO in history when it started public trading in September 2014. The blooming business model is even more commendable as China’s economy contracted during the last year. Alibaba’s marketplaces in China managed to…

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Alibaba, Foxconn Reportedly in Talks to Jointly Invest $500 Million in Snapdeal

China’s Alibaba and Taiwan’s Foxconn are reportedly in talks to jointly invest about $500 million (roughly Rs. 3,213 crores) in India’s Snapdeal, a deal which could see the growing e-commerce firm valued at roughly $5 billion (roughly Rs. 32,100 crores).The news of the significant potential investment comes via the Wall Street Journal, which cites people familiar with the matter. One of the sources adds that the two companies are planning to invest together in Snapdeal for a combined 10 percent stake. The deal talks were also said to be in…

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