Tag: Alibaba

Alibaba Nets Record $30 Billion in Singles’ Day Haul, but Growth Rate Plunges

Chinese e-commerce giant Alibaba Group Holding cashed a record CNY 213.5 billion ($30.7 billion/ Rs. 21,83,50 crores) in sales on Sunday during its 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest rate. Shoppers in China and across the world snapped up hot items including iPhones, furniture and milk powder […]

Alibaba invests in WayRay, a maker of augmented-reality dashboards for smart cars

After launching its first car last year, Alibaba is digging deeper into the automobile industry. The Chinese Internet and e-commerce behemoth is the lead investor in smart car tech developer WayRay’s $18 million Series B round, the startup announced. Founded in 2012, WayRay makes holographic navigation systems. According to its funding announcement, WayRay has already spent […]