Alibaba

Alibaba and E-Mart Team Up for $4 Billion Korean E-Commerce Joint Venture

Alibaba Group Holding Ltd. is merging its South Korean operations with E-Mart Inc.'s e-commerce platform in a joint venture valued at approximately $4 billion, according to a stock exchange filing by E-Mart and a report by Bloomberg. The 50-50 joint venture, combining AliExpress International and Gmarket, aims to

Ant Group Splits Alipay into Two Units in Latest Restructuring Move

Ant Group, the fintech giant affiliated with Alibaba Group Holding, is splitting the business group of its mobile payment platform Alipay into two units, in its latest corporate restructuring move aimed at driving new growth, according to the South China Morning Post. The company will establish the Digital Payment Business

Alibaba Splits AI Team to Sharpen Consumer and Business Focus

Alibaba Group Holding has reorganized its artificial intelligence (AI) team, separating the developers of its AI chatbot Tongyi Qianwen from the team responsible for building its underlying large language model (LLM). This restructuring, reported by Chinese tech media outlet 36Kr and cited by the South China Morning Post (SCMP), aims

Alibaba Launches AI Search Engine for Small Businesses, Boosting Purchase Intent

Chinese e-commerce giant Alibaba has unveiled an AI-powered search engine designed to help small businesses in Europe and the Americas source supplies, reports CNBC. The tool, called Accio, leverages generative AI technology similar to ChatGPT to enhance the product discovery and procurement process. Alibaba claims that initial tests showed businesses