PDD Tag

10 Apr Jack Ma steps into ‘mistakes’ brouhaha to boost Alibaba’s morale, urges staff to embrace change and prepare for AI to upend e-commerce

Posted at 02:34h in Asia

Alibaba Group Holding has fundamentally changed its corporate culture to put customers first in its adaptation of technology, its co-founder Jack Ma wrote, as he stepped into a social media hubbub over the hubris that caused what was once the world’s largest e-commerce platform to...

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26 Mar Alibaba connects Taobao and 1688 to tap new users as fierce e-commerce competition ratchets higher

Posted at 13:25h in Asia

Alibaba Group Holding is integrating the services of its online wholesale marketplace 1688 with its flagship consumer shopping platform Taobao, as the e-commerce giant continues to consolidate assets amid internal restructuring and rising competition.Taobao has recently featured three online stores under the 1688 name as...

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25 Mar PDD’s Colin Huang surpasses Tencent, ByteDance founders as China’s richest tech billionaire after Pinduoduo outgrows e-commerce rivals

Posted at 11:36h in Asia

Colin Huang, the founder of PDD Holdings, has become China’s richest technology entrepreneur after a surge in the value of its US-listed shares, allowing him to surpass the nation’s more illustrious tycoons Pony Ma Huateng of Tencent Holdings and Zhang Yiming of Bytedance.The 44-year-old grew...

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20 Mar Discount e-commerce giant PDD beats quarterly revenue estimates as Temu shines

Posted at 11:58h in Asia

Discount e-commerce giant PDD Holdings beat estimates for fourth-quarter revenue, driven by robust user growth and sales at its global platform Temu.PDD on Wednesday reported revenue of 88.88 billion yuan (US$12.35 billion) for the three months to December 31, compared with an average analyst estimate...

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30 Jan AI, cross-border e-commerce are bright spots for Chinese internet firms in 2024, UBS says

Posted at 11:00h in Asia

Chinese internet firms can look to chase growth through international markets and artificial intelligence (AI) in 2024, according to UBS.China’s e-commerce platforms, facing intense domestic competition with new rivals and short-video app operators, are ramping up overseas expansion, Kenneth Fong, head of China internet research...

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23 Jan ByteDance executive leaves to start cross-border e-commerce venture after Shein, Temu success in US

Posted at 10:30h in Asia

A founding member of ByteDance’s flagship Douyin app, the Chinese version of TikTok, has left the tech giant to focus on his own start-up for cross-border e-commerce, as Chinese-backed peers like Shein and Temu gain traction worldwide.The new venture from Ren Lifeng,...

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09 Jan Alibaba’s AliExpress, PDD-owned Temu face supply chain challenges in South Korea amid rapid business expansion

Posted at 02:00h in Asia

This article was first published by The Korea Times in a partnership with the South China Morning Post.China’s e-commerce giants are now the fastest-growing online platforms for Korean shoppers, but they are still grappling with problems of long delivery time and unstable product quality,...

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04 Jan PDD halts development of local services offering to avoid head-on competition with Meituan and Ele.me, report says

Posted at 12:00h in Asia

E-commerce giant PDD Holdings has halted work on its local life services offering, avoiding head-to-head rivalry with Meituan, Alibaba Group Holding and ByteDance, whose Douyin short video app has also dipped a toe into the sector.PDD has “completely halted [development of] the local services business”,...

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03 Jan ByteDance’s Douyin makes instant refunds mandatory, following PDD, Taobao and JD.com amid fierce e-commerce competition

Posted at 10:36h in Asia

Douyin, the Chinese version of TikTok that is betting big on e-commerce, has made its “express refund” policy mandatory, forcing merchants to immediately return money to consumers upon request to compete with similar offerings on Taobao and Pinduoduo.The platform operated by Beijing-based ...

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