Alibaba’s Singles’ Day sales top $38.4 billion

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For the latest business news and markets data, please visit CNN Business. This is the first Chinese tech initial public offering in the U. Why all the hoopla? Momo has more than million registered users and it’s catering to the most populous nation on the planet. On top of that, Momo has some very good pals. Alibaba BABA is a big investor.

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Established in , Alibaba is the dominant e-market in China, with a websites in China motivates the e-business ecosystem of Alibaba, including To date, Ma has emphasized Alibaba’s new vision, value, and culture.

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Singles’ Day filters through China’s economic gloom

Photo provided by iStock. Alibaba’s fintech and China’s biggest mobile payments company, the Ant Group, has started its preparatory filing with China’s securities regulator to dual list in Shanghai and Hong Kong. Overall, BABA stock shows a strong buy analyst consensus, with 19 recent buy ratings vs 1 hold rating. Sign up now for the Mobile Payments Today newsletter and get the top stories delivered straight to your inbox.

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Alibaba’s Ant group starts China IPO filing

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Ready, steady, spend. Behind this annual ritual, is the Alibaba name. With more than half of the domestic e-commerce market in China, the global juggernaut that Jack Ma built dominates the online landscape. But for now, the aftershocks are causing problems. Big-ticket items such as new car sales have stalled after dropping for the 16th consecutive month in October, while residential property prices have also suffered as consumer debt spirals. Trade tension has inflicted harm on privately-owned businesses in China.

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Apart from expanding service coverage and building even more next-generation data centers around the world, Alibaba Cloud has also committed to hiring a further 5, staff globally in areas from network, database, servers and chips to artificial intelligence. To date, Alibaba Cloud operates 63 availability zones in 21 regions around the world, supporting the needs of businesses in over countries and territories.

As the first step of the recent investment plan, Alibaba Cloud will open its third data center and the first data-scrubbing center in Indonesia next year. With digitalization as the most fundamental driving force for global economic development and to further promote global economic recovery in the wake of the COVID pandemic, Alibaba Cloud has reaffirmed its commitment to broadened support for global companies and will work with them to co-create the new digital reality.

As part of the pivot to the new digital paradigm and to help enterprises fast-track their digital transformation journeys, Alibaba Cloud also launched a slate of new and upgraded solutions for the new normal, some available globally for the first time. New solutions include the 7th Generation of Elastic Compute Service ECS high-frequency product, which is based on the X-Dragon architecture to fuel cloud applications and hosting needs with improved computing power and low latency.

In the promising digital market of Indonesia, PolarDB has been very well-received by pioneer users including prominent start-ups Kopi Kenangan, Akulaku and Investree. Its ability to overcome the challenges of analytic and serving workloads empowers business leaders to innovate with greater situation awareness and improves overall business agility.

Hologres, Realtime Compute and Maxcompute form the next generation cloud native data warehouses of Alibaba Cloud, offering enterprises with unified batch, real-time, serving and analytics solutions together to solve the growing complexity in big data architecture. Smart Access Gateway SAG : Available for the first time in Southeast Asia, the all-in-one SD-WAN solution repositions mainstream technology to solve network issues in hybrid cloud environments without the hassle of configuration while enjoying quick access from private networks to all Alibaba Cloud services under end-to-end security policies.

ARMS Prometheus Service: Available for the first time to the international markets, this open-source monitoring system and alarm framework collates real-time series data and supports multiple charts and data dashboards. It provides a fully compatible open source experience, supports PromQL, native service discovery and alerting.

It solves the pain points of native Prometheus to provide unlimited expansion of cloud storage, high availability and high stability, and very low load of Indicator collection consumption. EDAS 3.

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