Sujit Misra’s Post

Pretty good results from a few big tech companies in APAC reported this month: > Tencent posted a 6% rise in first-quarter revenue. International Games gross receipts rose 34% YOY > Alibaba’s cloud division saw AI-related revenue from external customers grow at triple-digits year-on-year. > SEA's total revenue grew 23%; sales from e-commerce grew 33% 🎉 Grab The company's revenue rose 24%. The strong showing from Grab, one of Southeast Asia's biggest tech firms, highlights increased discretionary spending by consumers in the region. 🎉 Pingduoduo's revenue rose 131%. These strong results propelled its market value past $204 billion and made it China’s most valuable e-commerce company, ahead of Alibaba. 🌏 Other interesting news: 🚗 UBER Technologies is buying Delivery Hero's foodpanda business in Taiwan for US$950 million 🇭🇰 Hong Kong Officially Launches Digital Yuan Payments Pilot 🇯🇵 The Japanese government is planning to award five companies 72.5 billion yen (US$470 million) to fund the development of an AI supercomputer to reduce the country's reliance on US technologies. 🇰🇷 South Korean government will invest 9.4 trillion Korean won (US$6.94 billion) in AI in the next three years as the country seeks to retain its leading position in the global semiconductor market.

BEIJING — It’s been a tumultuous 12 months for Alibaba, casting doubt on the future of the tech giant just as artificial intelligence is taking off. The company’s cloud computing unit was poised to capture AI’s growth for investors in a public listing, until Alibaba pulled those plans in November. The Group’s U.S. market value fell below that of e-commerce rival PDD, signaling struggles in the industry that had propelled Alibaba onto the global stage with the world’s largest IPO in 2014. On the political front, Alibaba was a poster child for China’s crackdown on internet tech companies — receiving a record fine of $2.8 billion for alleged monopolistic behavior in 2021. Slowing economic growth hasn’t helped its business either. But the scrapped cloud IPO plans and management shakeup in the last year reflect bigger problems for a company that has served as a bellwether for foreign investors in China. Alibaba’s stock has plunged to below $77 a share, down by 75% from more than $300 in 2020.

🔥 𝐁𝐚𝐭𝐭𝐥𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐓𝐢𝐭𝐚𝐧𝐬: 𝐀𝐥𝐢𝐛𝐚𝐛𝐚 𝐯𝐬. 𝐓𝐞𝐦𝐮 𝐯𝐬. 𝐃𝐨𝐮𝐲𝐢𝐧?! 🔥 Are we witnessing a seismic shift in the world of Chinese e-commerce giants? 🌍 🛒 Jack Ma, the visionary behind Alibaba Group, issued a startling wake-up call in a surprise internal memo. Alibaba, once poised to hit a trillion-dollar valuation, is now grappling with its lowest value this year, starkly contrasted by the meteoric rise of rivals like Pinduoduo / Temu (PDD Holdings) and Douyin / TikTok (ByteDance) 📉 🚀 🌀 𝐀 𝐒𝐡𝐢𝐟𝐭 𝐢𝐧 𝐏𝐨𝐰𝐞𝐫 The Alibaba we once knew is now navigating internal and external turmoil, facing stiff competition from Pinduoduo and the rapidly growing ByteDance. Meanwhile, PDD's US shopping app Temu is making waves, challenging Alibaba's dominance. 🌐 🔍 💡 𝐌𝐚'𝐬 𝐂𝐚𝐥𝐥 𝐭𝐨 𝐀𝐜𝐭𝐢𝐨𝐧 Ma's memo, reminiscent of his innovative spirit, pushes for a fundamental shift in Alibaba. He acknowledges the robust moves by PDD, emphasizing that "Every great company is born in a winter." This marks a crucial juncture for Alibaba to reassess and reinvent itself. ❄️ 🔄 🔮 𝐓𝐡𝐞 𝐑𝐨𝐚𝐝 𝐀𝐡𝐞𝐚𝐝 As Alibaba ponders its future and PDD continues its rapid ascent, the e-commerce landscape is more dynamic than ever. This unfolding saga not only shapes China's tech scene but also poses a significant challenge to the status quo in the West. 🌉 🌍 🤔 What do you think lies ahead for these tech giants, and how will their rivalry impact the global market? #alibaba #temu #ecommerce #techgiants #chinatech 🌟 Follow me for more updates on China tech, tourism and consumer trends. 🌐 💡 Ready to tap into the Chinese market or elevate your brand? Let’s talk! 📈

#BigTech, Big Money in South East Asia #Amazon US$12b in Singapore #Microsoft US$1.7b in Indonesia, US$2.2b in Malaysia #Apple US$250m in Singapore Majority of this money is going towards #AI By 2030, AI is expected to contribute US$1 trillion to the South East Asia’s GDP. Today the region has a combined population of 660m and GDP in excess of US$3.6 trillion We are in that axis of #supergrowth, and #Singapore is a strong anchoring hub to be to consolidate efforts for a #SEA #growth #expansion #strategy! I am certain following the big tech investments into Singapore and the SEA region, other players in the value chain will hasten their expansion decisions. #Forward #Singapore #Forward #SEA

The future of #Alibaba Group Holding Ltd. seems to be taking a positive turn after a challenging period. Here are some key points: * **Jack Ma**, the founder of Alibaba, has endorsed the company's significant organizational changes, signaling a positive shift in Alibaba’s trajectory¹. * Alibaba underwent a historic reorganization and sweeping management changes in a bid to return the Chinese technology giant to growth². * The company announced plans to split up its massive business empire, reshuffled its management team, and brought in a new CEO, **Eddie Wu**, to lead the company⁴. * Alibaba's e-commerce segment led by #Taobao and Tmall, has faced enormous challenges lately. The rise of PDD Holdings and Douying have made for an increasingly competitive business environment⁴. * One central area of change is Wu's commitment to putting users first to build a thriving e-commerce ecosystem⁴. * Alibaba Cloud has become the leading cloud infrastructure player in China with a 34% market share⁴. * Alibaba has brought in a separate management team and board of directors for the cloud business, giving the unit more independence to chart its own path⁴. * Co-founder Joe Tsai expects the penetration of e-commerce in China will exceed 40% in the next five years, up significantly from the current 30% level⁶. These developments suggest that Alibaba is making strategic changes to adapt to the evolving market and regulatory environment. However, the success of these changes will depend on their execution and how the market responds. Please note that this information is current as of April 2024 and may change over time. Source: (1) Jack Ma Endorses Alibaba's Revamp, Signaling Confidence in the Tech Giant's Future. https://lnkd.in/gnJqAwXv. (2) Alibaba shares jump after founder Jack Ma reemerges with praise of Chinese giant's 'transformations'. https://lnkd.in/gxsrEVVC. (3) What Can Investors Expect From Alibaba in 2024? - Yahoo Finance. https://lnkd.in/g5qJn9f2. (4) After doubts about Alibaba's future, co-founder Joe Tsai says ... - CNBC. https://lnkd.in/gYJhNRgy. (5) Jack Ma steps into ‘mistakes’ brouhaha to boost Alibaba’s morale in staff memo, eliciting support from Chinese Embassy in US. https://lnkd.in/gHdSRHZ8. (6) Alibaba's Future Looks Even More Uncertain After It Scraps Cainiao IPO .... https://lnkd.in/gAWi4hkA.

Alibaba, the Chinese multinational conglomerate, is facing a decline in its fortunes. It has failed to combat aggressive new competitors effectively, keep abreast of AI developments, and capitalize on its strengths in domestic e-commerce to succeed in Western markets. Many employees are still in the dark about which parts of the business have and have not split, causing massive trust issues among them. In response, Alibaba created an IT team to handle infrastructure across the group after a review found that teams were replicating the same functions in various business units. In another example of the disarray within, an employee at DingTalk, Alibaba’s enterprise communication platform, said their team had been logged out of the group’s intranet without warning, leaving them without access to Alibaba’s internal communications. To revive Alibaba, it will need to win the trust of customers, employees, and investors and get back on course with an innovative spirit. #Alibaba #ChineseMultinational #ECommerce #Innovation #TrustIssues #ITInfrastructure

Colin Huang, the 40-year-old founder of #ecommerce giant Pinduoduo, is currently China's third-richest person. Huang on July 1 stepped down as chief executive of Pinduoduo, which has managed to rack up a market cap of more than $100 billion in less than five years. Pinduoduo is a gamified online marketplace that connects buyers and sellers and has a market value of $101 billion more than Uber or Sony. Huang, who owns 29.4% of the company, is currently worth more than $40 billion. Huang's first full-time job was at #Google. He resigned in 2007, and has since been a serial entrepreneur. Although Colin Huang isn't well-known outside of China, he poses a significant threat to Tencent #founder and CEO Pony Ma as well as Alibaba founder Jack Ma in the race to become China's richest man. Huang recently announced his resignation as #CEO of Pinduoduo, an online marketplace that connects vendors and consumers through gaming. It is more valuable than Uber or Sony since it is well-liked in China and has a market capitalization of over $100 billion. Huang recently announced his resignation as CEO of Pinduoduo, an online marketplace that connects vendors and consumers through gaming. It is more valuable than Uber or Sony since it is well-liked in #China and has a market capitalization of over $100 billion. Google was Huang's first full-time employer. After leaving in 2007, he went on to become a serial entrepreneur. Huang's net worth of $45.4 billion made him the second richest man in China, behind Tencent's Pony Ma, briefly overtaking Jack Ma of Alibaba, who is valued at $43.9 billion, according to #Forbes Real-Time Billionaire Index. Huang quickly fell back to third position, and as of right now, the Bloomberg Billionaires Index has him at 23rd worldwide. Huang was born in 1980 in the eastern Chinese province of Zhejiang, on the outskirts of Hangzhou, to parents who worked as factory workers. #Alibaba is also headquartered there. Huang's now-suspended Medium blog contains some personal details. He claimed in one article that he attended a "regular" elementary school, but that his instructor urged him to take an admission exam for the extremely prestigious Hangzhou Foreign Language School after he placed first in a math Olympiad. His high school was well known for its liberal curriculum. "We were introduced to western culture and influence at a far younger, deeper, and more significant age. Many of us lean leftward relative to our classmates at other universities," Huang remarked. www.tycoonstory.com #ColinHuang #Pinduoduo #Entrepreneur #Ecommerce #TechInnovator #Startup #BusinessLeader #ChineseTech #Innovation #DigitalMarket #TechEntrepreneur #BusinessSuccess #OnlineRetail #TechIndustry #Leadership #PDD #MarketDisruption #Founder #SuccessStory #TechGiant Pinduoduo Colin Huang

Hide my tears with a big smile........... Jack Ma wrote an internal memo congratulating PDD and promising Alibaba would reform and fight back the lost market shares. An 8 years old E commerce company PDD surpassed the 24 years old Alibaba in its market cap for the first time last night. It is not at all that surprising. Think about it, Taobao's model is people search for the needed goods, so the business is more tilted towards its merchants. PDD's commercial concept is goods being pushed to the right customers, its business is more biased towards consumers. In today's world, the advantage of AI would further elevate the efficiency of those platform business with 1b+ users to a new level. I believe the answer to the commercialisation of AI lies on "to C", and front runner of those innovative companies in China are Tencent, PDD and Meituan.

📱📷 China's internet giants like Tencent and Alibaba Group are investing more in key areas such as driving development, innovation and jobs. They were highlighted by the country's top data administration to encourage platform enterprises to play more active roles in the digital economy. #WorkinChina #DigitalEconomy #internet #innovation #job #enterprise http://mtw.so/5UkMVx

🔍 Jack Ma, the co-founder of Alibaba, breaks his low profile with a candid critique on Alibaba's staff forum. He calls for fundamental change and praises rival Pinduoduo for its strategic moves. As Alibaba faces a transformative era, Ma's unexpected engagement emphasizes the urgency for innovation in the AI-driven landscape. 🚀 Takeaway: Even industry giants must evolve or risk being outpaced. Jack Ma's reappearance and words are a call-to-action for Alibaba and a reminder that in the fast-moving world of tech, adaptability is key. 🌟 #Alibaba #JackMa #TechLeadership #Innovation #BusinessStrategy #ArtificialIntelligence #AILeadership #MarketCompetition #CorporateTransformation #Pinduoduo #TechNews