Alibaba Purchases Stakes in Chinese Courier STO Express for $693 Million to Strengthen Delivery Capabilities
STO Express is one of China’s top five express delivery and the deal will help Alibaba gain a stronghold in the country’s delivery sector. The stake acquisition also comes as part of its efforts to expand its ecommerce footprint and boost online-to-offline sales through enhanced logistics capabilities.
Under the deal, Alibaba will own 49% stake in a new unit that will control 29.9% of Shenzhen-listed STO Express Co Ltd, the courier said in a regulatory filing on Monday.
Asia's Leading Ecommerce Marketplace that Rewards Customers Targets to Onboard Local Online Sellers in Its Expansion to Thailand
As V-More is pursuing a plan of expansion, it aims to recruit Thai ecommerce merchants to sell on its platform, which currently has gathered 500,000 users in the region. The company says that it will achieve its target through incentive and marketing programs.
V-More is a one-stop marketplace for high-quality products that are value for money. Through V-More, consumers can shop and be rewarded at over 500 marketplace and shopping sites including leading online brands, hotel and flight booking sites, technology as well as food and beverages merchants.
Tencent-backed Meituan Dianping said its revenue grows 89% in the fourth quarter of last year. The revenue was reported to increase to $2.9 billion. Unfortunately, the company’s operating loss rises 144% during the same period.
Although the gross margin of Meituan Dianping’s food business increases to 13.4%, China’s slowed economy deteriorates its positioning. In recent years, Meituan Dianping has been fighting a costly subsidies war with food delivery rival Ele.me, backed by Alibaba and Softbank
Called #ColorMe service, the AR-based application will enable shoppers at Watsons across Asia to try on 300 make up products virtually. Users will also be able to try on recommended trend looks, create and save their own look creations, as well as capture photos and videos of their makeup.
The service will be rolled out for L’Oreal Paris and Maybelline brands via its ecommerce mobile app in Malaysia, Taiwan, Thailand, and Singapore for the first phase. Watson will consider extending the collaboration to other brands and markets across its portfolio in Asia and Europe in the future.
In the latest venture from Deliveroo, the delivery company opens Deliveroo Food Market which features ten kitchens as well as a 40-seat dining space at Alice@Mediapolis, Singapore. Over there, diners will be able to place their food orders at a self-service kiosk, and these are prioritized over food delivery orders.
It also invites restaurant partners including Korean fried chicken brand Bonchon, Omakase Burger, Vietnamese noodle bar NamNam, Rasa Rasa, The Flying Squirrel, ComNam and Blu Kouzina to join at the restaurant.
Through Alibaba, the new original programming will cover game predictions, fashion, sneakers, memorabilia and other popular basketball and cultural topics. These will appear under a new dedicated section named “NBA section” on Alibaba’s website.
In 2015, the NBA struck a five-year deal making Tencent Holdings Ltd the only company in China to offer the NBA’s League Pass package, which allows subscribers to watch a full season’s worth of games live and on-demand.