China’s largest e-Commerce player, Alibaba Group Holding Limited, released its second quarterly report and stated that the firm’s aim was to facilitate ease of doing business anywhere.The Chinese company is engaged in consumer-to-consumer, business-to-consumer and business-to-business sales services via various web portals.
In its Q2 report, Alibaba said that the firm made significant progress in monetizing its mobile traffic with mobile revenue exceeding 50% of the total Chinese commerce retail revenue for the first time ever.
The company mentioned that it established itself as the market leader in the cloud computing services in China. Alibaba has also partnered with online publisher
Below are the business highlights and strategic updates of Alibaba.
As per an iResearch report, Alibaba has emerged as the top mobile browser in China while statCounter says the company is the most popular third-party mobile browser in India and Indonesia.
The company, on August 10, entered into definitive agreements to establish a comprehensive partnership with Suning, one of China’s largest consumer electronics retailers with over 1,600 retail stores, 65 national and regional distribution centers.
Alibaba, under the company’s agreements, will invest US$4.6 billion for 19.99% of the enlarged equity capital and form a strategic alliance to build on synergies in e-Commerce, logistics and incremental business through joint omni-channel initiatives.