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<keyword id="302749" type="COMPANY" weightage="100" keywordseo="Alibaba">Alibaba</keyword> founder <keyword id="424838" type="PERSON" weightage="100" keywordseo="Jack-Ma">Jack Ma</keyword>'s net worth saw a mammoth rise of $2.8 billion overnight after <keyword id="791739" type="COMPANY" weightage="100" keywordseo="Alibaba-Group-Holding-Ltd">Alibaba Group Holding Ltd</keyword>. forecast sales growth going beyond predictions of all analysts. The 52-year old has now become the richest person in Asia, and 14th richest in the entire world, says the <a href="https://www.bloomberg.com/news/articles/2017-06-09/asia-s-richest-man-sees-net-worth-soar-2-8-billion-in-a-day">Bloomberg</a> Billionaires Index, with a net worth of $41.8 billion. It was after <keyword id="2583369" type="UNKNOWN" weightage="100" keywordseo="Maggie-Wu">Maggie Wu</keyword>, the CFO of the Alibaba group said that the <a href="http://www.businessinsider.in/small-business/companies/alibaba-cfo-expects-revenue-to-grow-by-45-to-49-in-fy2018/articleshow/59051325.cms">revenue might grow</a> by 45 to 49% in FY 2018, that the share prices surged 13% to a record high. Wu demonstrated how the company’s investments beyond online shopping are eventually paying off as a result of rise in the revenue. These investments beyond online shopping include cloud computing services, music streaming, and videos as part of a campaign to get more digital advertising spending.

Alibaba founder has overnight become the richest man in Asia

China’s largest <a href="http://www.businessinsider.in/searchresult.cms?query=e-Commerce+">e-Commerce </a>player, <a href="http://www.businessinsider.in/searchresult.cms?query=alibaba">Alibaba Group Holding Limited,</a> 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. 
 <keyword id="2583369" type="UNKNOWN" weightage="20" keywordseo="Maggie-Wu">Maggie Wu</keyword>, Chief Financial Officer of Alibaba Group said, “We have generated strong free cash flow of US$1.5 billion this quarter. We continue to execute our growth strategy and focus on long-term value creation. The fundamental strength of our business gives us the confidence to invest in new initiatives, add new users, improve customer experience and expand our products and services.” 
 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 <keyword id="724071" type="UNKNOWN" weightage="20" keywordseo="Sina-Weibo">Sina Weibo</keyword>, gaming company Play800, taxi-hailing app operator Kuadi and <keyword id="473035" type="ORGANIZATION" weightage="20" keywordseo="China-rail">China Rail</keyword> Customer service centre in its cloud computing service. 
 
Below are the business highlights and strategic updates of Alibaba. 
 
 
As per an iResearch report, Alibaba has emerged as the top mobile browser in <a href="http://www.businessinsider.in/searchresult.cms?query=China+">China </a>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.

Alibaba wants to facilitate ease of doing business everywhere

<ul class="summary-list"><li><keyword id="11893877" type="UNKNOWN" weightage="60" keywordseo="alibaba" source="Orion">Alibaba</keyword> will form two new units to house its main domestic and international e-commerce businesses.</li><li>The company announced deputy CFO, Toby Xu, will succeed current CFO Maggie Wu from April.</li></ul><a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba</a> Group Holding stock slid in Hong Kong on Monday after the Chinese <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech" source="Orion">tech</keyword> giant said it was reorganizing its international and domestic e-commerce businesses and would appoint a new chief financial officer.The changes come as Alibaba faces headwinds on multiple fronts, including increased competition, <a href="https://www.businessinsider.com/china-economy-q3-slowdown-evergrande-demand-energy-crunch-investment-2021-10">a slowing economy,</a> and <a href="https://www.businessinsider.com/insider-guide-china-tech-crackdown-from-algorithms-to-crypto-mining-2021-10">a regulatory crackdown</a>.Alibaba stock closed 5.6% lower on the Hang Seng index at HK $112.70 ($14.45), having pared earlier losses. But the company's US-listed shares were up about 2% at $114.30 in pre-market trading at 6:20 a.m. ET Monday, after losing more than 8% to end at $111.96 on Friday. On Friday, US-listed shares of Chinese companies tumbled on concerns about stricter regulatory scrutiny at home in the wake of plans by <a href="https://www.businessinsider.com/didi-to-delist-from-nyse-move-hong-hong-stock-exchange-2021-12">Didi Global Inc.</a> to delist from the New York Stock Exchange.Alibaba said Monday it would form two new units to house its main e-commerce businesses — international digital commerce and China digital commerce — in a bid to become more agile and accelerate growth.The international digital commerce unit will house Alibaba's overseas consumer-facing and wholesale businesses, and include AliExpress, Alibaba.com, and Lazada. The unit will be headed by Jiang Fan, formerly president of the Taobao and Tmall.com marketplaces.Alibaba will house its domestic commerce businesses in the China digital commerce unit which will be led by Trudy Dai, a founding member of Alibaba, it said.The company's deputy chief financial officer, Toby Xu, will succeed Maggie Wu as the company's chief financial officer from April, it said, describing his appointment as part of the company's leadership succession plan.Xu joined Alibaba from PWC three years ago and was appointed deputy CFO in July 2019.Wu, who helped lead three Alibaba-related company public listings as CFO, will continue to serve as an executive director on Alibaba's board.Last month, Alibaba slashed its forecast for annual revenue growth to its slowest pace since its 2014 stock market debut and saw sales at its banner event, online shopping festival <a href="https://www.businessinsider.com/alibaba-record-85-billion-dollars-singles-day-sales-2021-11">Singles Day,</a> grow at their slowest rate ever.

Alibaba shares slide in Hong Kong after it overhauls e-commerce businesses, appoints a new financial chief

Five Indians have found place among the world's top 25 <keyword id="110345" type="PERSON" weightage="20" keywordseo="Venture-capitalists">venture capitalists</keyword> who have been featured in the latest edition of the <keyword id="9953741" type="UNKNOWN" weightage="20" keywordseo="GCV-powerlist">GCV Powerlist</keyword>. Shankar Chandran, Managing Director, Samsung Catalyst Fund, who shared the ranking with his colleague Francis Ho for the fifth position in the list, is top ranked among Indians. Rajeev Misra, Global Head of SoftBank Vision Fund shared the overall 10th position in the list with his colleague Marcelo Claure. Nagraj Kashyap, Head, M12 -- formerly Microsoft Ventures -- was ranked 12th, Arvind Purushotham, who leads the venture Citi Ventures was ranked 21st and Girish Nadkarni who is the President of Total Carbon Neutrality Ventures was ranked 22nd in the list released on Wednesday. GCV, the media publication and data provider for the corporate venture capital industry, compiles its annual "Powerlist" of the top 100 heads of corporate venturing units out of more than 2,000 that it covers globally. Jeffrey Li, Managing Partner at Tencent Investment tops the overall list this year, followed by Maggie Wu of Alibaba Innovation Ventures, Amy Banse of Comcast Ventures, and Larry Illg of Prosus Ventures - formerly Naspers Ventures. Many Indians have found place in the overall list featuring 100 venture capitalists. Writing a "Foreword" to the report, Young Sohn, Samsung Electronics' Corporate President and Chief Strategy Officer, said that lesson from past recessions suggest that those who have survived downturns, even emerged stronger, benefitted from investing in the right innovation. "Even as Covid-19 has greatly impacted our economy, it has revealed immense opportunities to not only grow but also meet critical needs. For example, the benefits of telehealth have been long acknowledged, especially for rural areas, but in an industry that still relies on pagers and fax machines, have predominantly remained analogue. "Since March, however, virtual checkups have become standard, with non-urgent virtual care increasing by more than 4,000 per cent according to one study," he said. Mass adoption is happening across technologies, from video conferencing to cashless payment to digital services, said Sohn who is also the GCV Leadership Society's Chairman. "The pandemic didn't change the rules - agility and creativity are more crucial than ever. Instead, it has created a crucible where some technologies will flourish, and it's our job to decipher which those are," he said.

These are the five Indian VCs in the top 25 venture capitalists in GCV Powerlist

<a href="https://markets.businessinsider.com/stocks/baba-stock"></a><ul class="summary-list"><li><keyword id="302749" type="COMPANY" weightage="60" keywordseo="Alibaba">Alibaba</keyword> reported the first-ever profit in its cloud business of $3 million on Tuesday.</li><li><keyword id="4856" type="PERSON" weightage="60" keywordseo="Baba">BABA</keyword> reported strong earnings including 37% year-over-year revenue growth and net income of $8.96 billion.</li><li>Alibaba's <keyword id="9541717" type="UNKNOWN" weightage="60" keywordseo="Ant-Group">ANT Group</keyword> has also reportedly reached a restructuring deal with Chinese regulators. </li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba</a> are up over 5% on Wednesday after the company <a href="https://www.alibabagroup.com/en/ir/earnings">reported the first-ever profit</a> from its cloud business during the December quarter.The Chinese e-commerce giant reported an adjusted EBITDA of 24 million yuan or $3 million for its cloud business in its earnings report on Tuesday.While the figure makes the cloud business just barely profitable, it does represent a transformation from a loss of 356 million yuan ($55.1 million) for the same period a year ago. Additionally, cloud computing revenue jumped 50% year-over-year to a record 16.11 billion yuan."Our cloud computing business continues to expand market leadership and show strong growth, reflecting the massive potential of China's nascent cloud computing market as well as our years of investment in technology," Alibaba CEO Daniel Zhang said in a press release.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-heavily-shorted-companies-overweights-wells-fargo-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Buy these 26 heavily shorted stocks as retail traders trigger wild rallies in Wall Street's least liked names, Wells Fargo says</a>It wasn't just Alibaba's cloud business that performed well during the most recent quarter either. Revenue jumped to $33.5 billion, and net income rose to $8.96 billion in the quarter."We delivered another solid quarter, with revenue growth of 37% year-over-year and adjusted EBITDA up 22% year-over-year, while our strong free cash flow enabled us to further invest in strategic areas," said Maggie Wu, Chief Financial Officer of Alibaba Group.Alibaba has been focused on revenue diversification and profit generation of late as it faces regulatory uncertainty domestically.The company was hit with <a href="https://www.businessinsider.com/alibaba-antitrust-jack-ma-ant-group-beijing-regulators-2020-12">an antitrust probe</a> from the Chinese government back in December, and its holdings in the fintech giant ANT Group have been under scrutiny as ANT faces its own regulatory hurdles.On Wednesday, however, <a href="https://www.bloomberg.com/news/articles/2021-02-03/ant-is-said-to-reach-agreement-with-china-regulators-on-overhaul">Bloomberg broke the news</a> that Ant Group and Chinese regulators have agreed on a restructuring plan that will turn ANT into a financial holding company, making it subject to capital requirements similar to banks.The plan calls for putting all of Ant's businesses into the holding company, which is good news for the fintech giant as some market participants had been speculating Ant might be forced to spin off portions of its business, Shujin Chen, Hong Kong-based head of China financial research at Jefferies Financial told Bloomberg.Read more: <a href="https://www.businessinsider.com/gamestop-wallstreetbets-reddit-trader-mania-populist-movement-occupy-wall-street-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">The GameStop mania driven by Reddit traders isn't simple market trolling. It's a populist movement threatening to disrupt the financial system to a degree Occupy Wall Street only dreamed of.</a>Additionally, after the company's Tuesday earnings release Alibaba revealed plans to raise up to $5 billion via US dollar-denominated bonds with several tranches at different maturities up to 40 years, <a href="https://www.cnbc.com/2021/02/03/alibaba-looking-to-raise-up-to-5-billion-in-us-dollar-bond-issuance.html">CNBC reported</a>.Despite pressure from Chinese regulators, analysts are mostly bullish on Alibaba due to its impressive e-commerce market share and growing cloud business. The company boasts 22 "buy" ratings, six "neutral" ratings, and zero "sell" ratings from analysts.

Alibaba jumps as cloud business reports first-ever quarterly profit

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Casey Curry/APMethod Man.</div></div></div>Most know Cliff "Method Man" Smith as one of the original members of the legendary rap group, The Wu-Tang Clan, but if you've been watching HBO's "The Deuce," you also know he's got some acting talent as well.Though he's been acting in movies and TV since the late 1990s, playing pimp Rodney on the latest show from the creators of "The Wire" - which Method Man also starred in - is a high water mark for the rapper/actor. That's especially true in Sunday's episode, where he delivers a scene-stealing performance opposite one of its main leads, Maggie Gyllenhaal.Business Insider spoke to Method Man about the generosity Gyllenhaal showed him in preparing for their scene, if we'll ever see a "How High" sequel, and if the album Martin Shkreli bought is really an official Wu-Tang album.Jason Guerrasio: This past episode is when Rodney really shines. The character has an intense scene opposite prostitute Candy (Maggie Gyllenhaal), who he's trying to recruit to his stable. Were you nervous going into shooting that?Method Man: I'm always nervous before I shoot. Well, I won't say nervous, I get butterflies, which I think is normal so I think that's good. The thing that I had working on my side for this scene was Maggie, in all aspects. Not just her acting chops and her carrying us through that scene, but that fact that she took aside a day of work that she had, and rehearsed with me before we even shot the scene, that's gracious as hell. She did not have to do that. I'm not even a major character on the show.Guerrasio: Going in you know it's a big scene for you, were you planning to approach Maggie yourself to see if she wanted to rehearse beforehand?Method Man: I wanted to, but I didn't know how to ask, so I was just going in and let nature take its course. She made the call and said, "Can Cliff come in and we can rehearse if he wants to." And I was like, "What? Yeah!" By the time we got on set we were ready to go. It was balled up energy ready to explode.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Paul Shiraldo/HBOMethod Man and Maggie Gyllenhaal in "The Deuce."</div></div></div>Guerrasio: On the shooting day, how many times did you go through that scene? Method Man: I'd say the meat and potatoes of the scene, where we were moving with steadicam, that was shot about four or five times. But I haven't seen the episode yet.Guerrasio: I'm kind of shocked you haven't seen the episode yet. Is that just your style, you just don't want to see it?Method Man: No. They just haven't given it to me. I don't have the same kind of access Maggie and James [Franco] have, and I'm fine with that because I want to enjoy the show just like everybody else. But to Maggie's credit, in that scene, from the rehearsal it was more or less let's try it like this and if it doesn't work f--- it, we're in the realm. And I had a hang-up about f------ up on certain words and she was like, "Don't even worry about it, if you go with something else, use it." So it was a learning experience as well as knowing the magnitude of the scene, that I was in with someone who is certified. So I knew I did not want to be the ugly person in the picture. You know you have a picture of a bunch of beautiful people posing perfectly, and then one person got the ugly face. Ruins the whole picture.Guerrasio: You've worked with a lot of big names in front of and behind the camera, had you ever gotten that graciousness in the past that Maggie gave you?Method Man: Yeah. My man Tom McCarthy, who directed "The Cobbler."Guerrasio: Who is an actor himself, so he knows what's needed.Method Man: Absolutely. I mean, he walked me through things step-by-step, and that's who reinvigorated my love for acting. It made me really want to get serious about it.Guerrasio: So that was the experience that got you serious about acting?Method Man: Yeah. When we did rehearsing I'm in there with Adam Sandler and Ellen Barkin, Dustin Hoffman, so I was very nervous and anxious. But when we got on set Tom didn't baby step me though it, he was just like, "You got this, you got the job already, get rid of the anxiety, let's do it!" And he made it fun for me, and I said, "F---, now I get it!" I can't put in words, it was just like, "Yeah, I can't wait to do the next role and try this or that." I took the blue pill and I'm ready.Guerrasio: How did you get involved with "The Deuce?" Is it a call from show creators George Pelecanos or David Simon? You were on "The Wire," do you have that clout now?Method Man: I think there's a very short list of people who don't have to audition for a David Simon project. Very short list of people. I have had to always audition. I came in for this, and I was willing to do it, but I wasn't notified by David or any of his people, it was casting person Alexa Fogel. She was responsible for getting me on "Oz," "The Wire," and those are all parts I had to read for. I auditioned first for Reggie Love, the part that Black Thought from The Roots got, and she also sent me C.C.'s part. So basically when I came in to audition for David and a few others I literally auditioned for Reggie Love, got up, walked out, walked right back in and auditioned for C.C.Guerrasio: [Laughs.]Method Man: And didn't get either part, by the way.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Paul Schrialdi/HBOMethod Man as Rodney in "The Deuce."</div></div></div>Guerrasio: So when did Rodney come around?Method Man: Rodney came around when they called me and said I got the part. And I was like, "Who is it?" And they were like, "It's Rodney," and I'm like smiling the whole time but I'm like, "Who the hell is Rodney?" And I started reading the script and I was like I exactly know who Rodney is, let's go.Guerrasio: The look of Rodney is amazing, did you help give birth to his look?Method Man: Very little. It was really all the wardrobe, hair and makeup departments. They did their thing.Guerrasio: Which role that you've played in your career is most memorable for you? Your favorite.Method Man: It was on television, an episode of "Difficult People." That's my favorite thing that I've done of anything right now. Because that whole episode it was just me being me. They didn't ask me to be some exaggerated version. Even though I did take liberties at certain points because they made me feel that comfortable to do that.Guerrasio: I'm not familiar with it, but I see that the character name for that episode is Method Man, so is it safe to say that's the real Meth right there?Method Man: Yeah, pretty much in a nutshell, yes sir.Guerrasio: This has always bugged me, why the accent in "Trainwreck?"Method Man: They wanted him to sound West Indian or Jamaican. I needed a movie part. I love Amy Schumer. I didn't know the movie would be big or not, I just knew I loved Amy and wanted to work with her. So I came in there with some pseudo-African/Jamaican/bad Trinidad accent. I had way more scenes than that but I guess the accent was so bad Judd Apatow tried to save me from being embarrassed and took it all out.Guerrasio: It's funny because you watch that movie and go, "Oh, Method Man is in this movie, cool," and then you talk and it's like, "Oh really?"Method Man: [Laughs.]<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Universal(L-R) Method Man and Redman in "How High."</div></div></div>Guerrasio: I'm sure you get this a lot, but will we ever see a "How High 2?"Method Man: I'm not sure. If there is one, hopefully there is, I'll be all over it if it's the right subject matter and funny. If it's not funny I don't want no part of it.Guerrasio: But is it just a pipe dream or have you gotten calls that it's serious?Method Man: No. There have been attempts, no lie. Script is written. The studio turned it down. And then we weren't happy with the material. Right now, I don't know where it is, it's in limbo. But there are people, from what I've heard, are behind the scenes trying to get some kind of "How High" movie done. I guess we'll see. I don't want it to be a video-on-demand type thing. I won't be participating in that.Guerrasio: "How High" did get a second life, I want you to know that.Method Man: Really, "How High"?Guerrasio: Yes. When that's on a movie channel it's one of those movies you watch because it's a fun time. People discovered that movie once it hit cable.Method Man: I appreciate that. See, that's how I look at other people's movies. It's hard for me to watch that movie and feel that way because I was actually there for the experience. But that's mad cool. I will never be able to enjoy my accomplishments the same way someone from the outside will. I have to enjoy it from someone else's eyes. Guerrasio: Let's finish with Martin Shkreli. Is there really a "Once Upon a Time in Shaolin" album?Method Man: Yeah, I think there is. I believe that is an actual album. But as far as recording, that's as far are my reach went, which is why when I was informed how they were approaching selling the album I kind of flipped out because I was misinformed by the person who gave me the information. But it's hard for me to speak on it because I wasn't informed, I wasn't in the loop. It's just next thing I know this dude had the album and I felt no kind of way about it.Guerrasio: Is it an official Wu album?Method Man: I wouldn't know because I haven't heard it, I only know the tracks that I spit on. That is it. So for me, especially with music, my personal opinion, I wouldn't have done it that way. I would have just gave it to the people at the end of the day. But you have people that have families to feed, things of that nature. Maybe without all the glamour and glitz on it it could have been done better because it was lost in translation whatever kind of message they were sending. And then to have someone [buy the album] that is pretty much disliked by a lot of people based off something that had nothing to do with hip-hop, that made it a little bit more worse.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERSThe Wu-Tang Clan.</div></div></div>Guerrasio: Is there a Wu album for the people coming soon? Method Man: October 15 a Wu album will be dropping called "Wu-Tang The Saga Continues." First video is out right now called "<a href="https://www.youtube.com/watch?v=iBViC-fEdm0" target="_blank" rel="noopener noreferrer">People Say.</a>" I personally don't like the video. But the song is pretty dope.Guerrasio: What's wrong with the video?Method Man: I always have problems with editors. If an editor can dance, if they can keep a rhythm, then they can edit. That's just my opinion. Music video director Diane Martel, she's not an editor but she sits in and she's responsible for "Bring the Pain" and "All I Need," "How High," her cuts always come on beat. So if you can't keep my interest on beat and your cuts are all over the place you're going to lose my interest pretty fast. But I'm a trained eye. I don't know how everyone else will perceive it.Guerrasio: Did you hear what a prospective juror said at the Shkreli trail? That Shkreli "disrespected the Wu Tang."Method Man: Yeah. You'll be surprised how far that W stretches man.Guerrasio: Are you still shocked by the power of the Wu?Method Man: I'm always shocked, brother. I take my blessings as they come and it's always new to me. That's how I feel about it. That's how I want to keep it. I always want the feeling to be new, never want to get used to it. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/super-mario-odyssey-play-nintendo-2017-9">We played the highly-anticipated new Super Mario game and were blown away</a></h3> <div> </div> </div>

Method Man talks about his scene-stealing episode on HBO's 'The Deuce' - and why he has no time for Martin Shkreli

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersFILE PHOTO: Alibaba founder Jack Ma and CFO Maggie Wu react as the company's IPO begins trading at the NYSE in New York</div></div></div><ul class="summary-list"><li>Chinese e-commerce giant Alibaba will postpone its rumored upcoming listing on the Hong Kong Stock Exchange, unnamed sources told<a href="https://www.reuters.com/article/us-alibaba-listing-exclusive/exclusive-alibaba-postpones-up-to-15-billion-hong-kong-listing-amid-protests-sources-idUSKCN1VB06S"> Reuters</a>.</li><li>The revelation follows unconfirmed reports, first published by<a href="https://www.bloomberg.com/news/articles/2019-05-27/alibaba-is-said-to-weigh-raising-20-billion-via-second-listing"> Bloomberg</a>, that <a href="https://markets.businessinsider.com/news/stocks/bloomberg-alibaba-mulls-second-listing-in-hong-kong-1028235778">Alibaba is considering raising US$20 billion </a>via a listing in Hong Kong in the second half of 2019, following its <a href="https://www.businessinsider.com/alibaba-ipo-world-record-at-25-billion-2014-9/?r=AU&amp;IR=T">record-breaking New York Stock Exchange IPO in 2014</a>.</li><li>The report comes as mass protests occupy the city for the<a href="https://www.businessinsider.com.au/hong-kong-volunteers-return-to-station-for-clean-up-2019-8"> 11th straight week</a>. According to the <a href="https://www.hongkongfp.com/2019/08/15/tear-gas-sham-shui-po-third-time-9-days-hong-kong-police-clear-roads-ghost-festival-demo/">Hong Kong Free Press</a>, police have deployed tear gas on protesters regularly over the past nine days.</li><li><a href="https://www.businessinsider.com">Visit Business Insider's homepage for more stories</a>.</li></ul>Chinese e-commerce giant Alibaba will postpone its rumored upcoming listing, as mass protests continue to rock Hong Kong.Two unnamed sources with knowledge of Alibaba boardroom activity <a href="https://www.reuters.com/article/us-alibaba-listing-exclusive/exclusive-alibaba-postpones-up-to-15-billion-hong-kong-listing-amid-protests-sources-idUSKCN1VB06S">told Reuters</a> the company will delay its plans to raise US$20 billion by listing on the Hong Kong Stock Exchange. The original plan of a late August listing could be delayed until October, although no formal timeline has been agreed on, <a href="https://www.reuters.com/article/us-alibaba-listing-exclusive/exclusive-alibaba-postpones-up-to-15-billion-hong-kong-listing-amid-protests-sources-idUSKCN1VB06S">Reuters said on Wednesday</a>. Asked to respond to the report, an Alibaba spokesperson told Business Insider the company "does not comment on market rumors". The report follows a similarly unconfirmed revelation, <a href="https://www.bloomberg.com/news/articles/2019-05-27/alibaba-is-said-to-weigh-raising-20-billion-via-second-listing">first published by Bloomberg in May</a>, that the retailer was <a href="https://markets.businessinsider.com/news/stocks/bloomberg-alibaba-mulls-second-listing-in-hong-kong-1028235778">considering a capital raise in order to boost liquidity</a>, working with financial advisors on the confidential plan. Alibaba declined to comment on the report, according to Bloomberg. The reported postponement comes as violent protests continue in Hong Kong for the <a href="https://www.businessinsider.com.au/hong-kong-volunteers-return-to-station-for-clean-up-2019-8">11th straight week with a heavy police response</a>. <a href="https://www.hongkongfp.com/2019/08/15/tear-gas-sham-shui-po-third-time-9-days-hong-kong-police-clear-roads-ghost-festival-demo/">The Hong Kong Free Press has reported</a> local police have used tear gas against protesters in the most recent clashes in the Kowloon district.The violence is impacting local business as <a href="https://www.businessinsider.com.au/hong-kong-protesters-withdraw-atm-2019-8?r=US&amp;IR=T">protesters withdraw their funds from ATMs and banks</a> and convert them to US dollars.Alibaba successfully launched its <a href="https://www.businessinsider.com/alibaba-ipo-world-record-at-25-billion-2014-9/?r=AU&amp;IR=T">initial public offering in New York in September 2014</a> in what was then the most successful listing in history at US$25 billion. The IPO raised US$21.8 billion before surging 38% on its NYSE debut.Should it go ahead, the Hong Kong listing will see Alibaba become closer to investors at home in China, who have been restricted from buying equity in the US-listed retailer. It would take advantage of a <a href="https://markets.businessinsider.com/news/stocks/bloomberg-alibaba-mulls-second-listing-in-hong-kong-1028235778">rule change by the Hong Kong Stock Exchange in 2018</a>, allowing dual-class tech stock listings.Were it not for the unrest in Hong Kong, now could be an opportune time for Alibaba to approach the market.The company managed to add <a href="https://www.businessinsider.com.au/alibaba-just-keeps-growing-shrugging-off-trumps-trade-war-and-chinas-slowing-economy-2019-8">98 million customers to its book over the last 12 months </a>and generate $US3.1 billion in net profit, despite the escalating US-China trade war.Get the latest Alibaba stock price<a href="http://markets.businessinsider.com/stock/baba-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/taste-test-kfc-popeyes-fried-chicken-fast-food-2016-9">We did a blind taste-test of KFC and Popeyes fried chicken - here's the verdict</a></h3> <div> </div> </div>

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