Who is Alibaba’s new CEO Eddie Wu and chairman Joe Tsai?
“Eddie Wu’s appointment as CEO shouldn’t come as a huge surprise. He co-founded Alibaba and played a key role on both the technology development and monetization of Taobao and Alipay,” Jacob Cooke, CEO of WPIC, an e-commerce tech and marketing firm that helps foreign brands sell in China, told CNBC. “His elevation to CEO of the group […]
Chinese tech giants’ push into U.S.
Alibaba’s $56 billion Singles Day record overshadowed
This article originally ran on CNBC on Nov. 11, 2020. GUANGZHOU, China — Alibaba set a new sales record for the annual Singles Day shopping event, a feat that was overshadowed by a near 10% stock plunge caused by proposed new Chinese antitrust regulation. Singles Day is typically a 24-hour shopping event in China that sees huge discounts […]
Tencent launches new online shopping feature in WeChat app, in a challenge to rivals
This interview originally ran on CNBC on Jul 16, 2020. Tencent has launched tools to help merchants build virtual shops on its wildly popular WeChat messaging service in China, pitting itself against the country’s major online shopping giants Alibaba and JD.com. Businesses and merchants will be allowed to sign up for a test of the e-commerce product, known as WeChat Minishop. […]
WPIC speaks with CNBC regarding iPhone sales in China in May
This interview originally ran on CNBC on Jun 23, 2020. IPhone sales in China fell in May, showing signs of weakening after Apple saw an initial rebound when the country reopened as the coronavirus outbreak eased. But other areas of the business grew, including spending on the App Store, which could point to some resilience for the U.S. […]
Apple sales in China bounce as the economy reopens, but the next few months could be tough
This interview originally ran on CNBC on May 21, 2020. Apple sales in China continued to recover in April, thanks in part to the release of a cheaper iPhone. It comes as the world’s second largest economy slowly reopens again after the coronavirus forced store closures earlier this year that caused sales to plummet. Still, analysts cautioned the […]
Everything you need to know about Pinduoduo, the fast-growing rival to Alibaba and JD in China
This interview originally ran on CNBC on April 21, 2020. U.S.-listed Pinduoduo (PDD) may not be a big name outside of China. But within the world’s second-largest economy, the e-commerce firm is growing faster than major rivals Alibaba and JD.com and gaining share quickly. Behind that success has been its “social shopping” model that encourages […]
CNBC: Alibaba breaks Singles Day record with more than $38 billion in sales
This article initially ran on CNBC on November 11, 2019. By: Arjun Kharpal HANGZHOU, China — Chinese e-commerce giant Alibaba set a sales record on Singles Day, the world’s largest 24-hour shopping event. Gross merchandise value, a figure that shows sales across Alibaba’s shopping platforms, surpassed last year’s 213.5 billion yuan record (nearly $30.5 billion) […]