Jon Russell, writing for TechCrunch;
Alibaba has set another Single’s Day record after the e-commerce giant sold over $25 billion of product on the Chinese biggest online shopping date.
The full number comes in at 163.8 billion RMB, that’s roughly $25.3 billion, in GMV — that’s “gross merchandise volume” which is used to measure a dollar value for all sales on a platform. In Alibaba’s case, that predominantly means its Taobao marketplace and Tmall brand store although it does offer sales via its international services and it ships worldwide. All told, Alibaba handled 1.48 Billion transactions during the 24-hour period.
This is all in just one day! These numbers are truly staggering!
Noon is the eCommerce platform that was funded by Mohamed Alabbar and Saudi Arabia’s Public Investment Fund (PIF). It has an initial capital of $1B.
Currently available in UAE, however judging from the job vacancies, it’ll be available in Saudi Arabia soon.
Matt Burns, writing for TechCrunch;
In the year of the $1000 iPhone Amazon just announced a scattering of new gadgets and none cost more than $150. Essentially, Amazon said “screws the margins” and are selling everything as cheap as possible. This race to the bottom is Amazon’s standard operating procedure. The company did it with Kindles e-readers and again with Kindle Fire tablets. The company releases a proof of concept and lets the market respond. If the response is favorable, Amazon releases the Kraken on the market.
This is where Amazon is killing the competition, they can actually sell their devices at a loss, since the company is not in the hardware business like Apple, Samsung, etc., their real business is to sell us things online, be it physical or digital goods.
If you look at all the devices that they announced today, most if not all makes it easy for us to shop online or should I say shop at Amazon.com, with just our voice or press of a button, you’ll be able to place your order, that’s their M.O., that’s how Amazon generate their revenue.
Founded by Alibaba Group on May 10, 2003, Taobao Marketplace facilitates consumer-to-consumer (C2C) retail by providing a platform for small businesses and individual entrepreneurs to open online stores that mainly cater to consumers in Chinese-speaking regions (Mainland China, Hong Kong, Macau and Taiwan) and also abroad. At the end of 2010, the number of registered members on Taobao had reached over 370 million, around 80% of the Chinese online shopping market.
Founded by Joel Sng and launched in Singapore in July 2015. honestbee is an online grocery, food and laundry delivery service that was launched in Singapore in July 2015. The service is also available in Singapore, Taipei, Hong Kong, Tokyo, Jakarta, Kuala Lumpur and Manila.
Formerly known as YouPoundit, Poundit is an ecommerce site for electronics and accessories that has built partnerhips with about 50 tech brands and authorized distributors including Sony, GoPro, ASUS, JBL, Harman Kardon, and Otterbox.
Tomas S. Noda III, writing for Deal Street Asia;
Singapore-based venture capital firm Cocoon Capital has made its business debut in the Philippines, investing over $629,700 (S$850,000) in a seed round for local e-commerce startup Poundit formerly YouPoundit.
Interesting name, sounds like “Found it!”
Alyza Angeles, writing for Yugatech;
We received information from Lazada that their Express Delivery is now out and about.
A preparation for the coming of Amazon Prime?
Tokopedia, an internet company that allows individuals and business owners in Indonesia to open and manage their own online stores easily and for free. Tokopedia provides a better online selling experience to the sellers, so that the sellers can provide a better online shopping experience to their customers.