Alibaba Group, China’s most valuable company with a market capitalization of $800+ billion, is paying $3.6 billion to gain more control of Sun Art Retail Group, which operates 480+ large supermarket stores. As in the U.S. and elsewhere, COVID-19 has seen many consumers shift to online shopping for food and other essentials. In 2017, Alibaba acquired a 36 percent stake in Sun Art for about $2.9 billion. With the latest purchase, Alibaba will own about 72 percent of the company and is positioned to compete with Walmart. Continue reading Alibaba Buys Majority Stake in Big-Box Grocery Store Chain

Quibi, the OTT streaming service focused on short-form mobile video founded by Jeffrey Katzenberg and launched in April 2020, is struggling to gain subscribers in a crowded marketplace. According to sources, the company is considering its options, including raising more money, going public via a merger with a special-purpose acquisition company (SPAC) that helps fund deals, or a sale. Sources added that the company has enough cash for several months and is not expected to shut down in the near future. Continue reading Quibi Misses Paid Subscriber Goal, Looks at Funding Options

To help creators make more money, Instagram debuted advertising on IGTV videos, digital badges that fans can buy via Instagram Live, and merchandise sales through Instagram Shopping. It also expanded its Brand Collabs Manager, which enables sponsored campaigns between companies and creators. Last week, Instagram expanded shopping features on Instagram Live as well. In China, meanwhile, e-commerce giant Alibaba Group plans to sign up 100,000+ creators this year to its AliExpress marketplace for shoppers outside of China. Continue reading Instagram, Alibaba Lure Creators with Revenue Opportunities

To gain global leadership, Chinese president Xi Jinping plans to invest $1.4 trillion dollars by 2025 in key technology areas, including 5G wireless networks, cameras and sensors, and AI for autonomous vehicles, automated factories and mass surveillance among other sectors. Chinese companies such as Alibaba, Huawei Technologies and SenseTime Group will likely benefit, as China reduces its reliance on U.S. companies. The Trump administration is leveraging its relationship with Taiwan as one way to fight back. Continue reading China to Invest $1.4 Trillion in Domestic Technology by 2025

The U.S. has long been dominant in technology, but China, the world’s second largest economy, has made huge investments in several sectors, threatening American hegemony. The Trump administration is battling that with tariffs and export controls and is currently considering ways to hinder China from making its own high-end semiconductors. That’s one of the technologies at stake, in addition to 5G, artificial intelligence, quantum computing and autonomous vehicles. China also aims to control international tech standards. Continue reading China Battles for Dominance in Tech Sectors, Standardization

Cisco Systems won a temporary injunction against four Chinese companies the company accused of counterfeiting its transceivers. Filed in federal court in the Eastern District of New York, the suit said the fake gear threatened U.S. national security and health systems because they were not secure and would fail more often. The transceivers are used in networks to pass data through corporate data centers, hospitals and military bases. The injunction will force Amazon and Alibaba Group Holding to cease sales of the phony equipment. Continue reading Cisco Wins Injunction Against Four Chinese Counterfeiters

Google and Microsoft are about to go mano-a-mano with new cloud-based gaming services. Google plans a limited launch in November of its Stadia service, which the company says will stream any title to any device. Microsoft, meanwhile, is building its Project xCloud on Azure, its own cloud network. Because every game on Xbox One, including Xbox 360 backward-compatible titles will be able to run on xCloud, the new service will debut with 3,500+ game titles. Microsoft said a beta version of its xCloud service will debut in October of this year. Continue reading Google and Microsoft to Intro Cloud-Based Gaming Services

Autocratic countries are moving towards China’s version of the Internet — limited content and controlled data — as a way of ensuring their own continued power and mimicking the success of Chinese corporations such as Alibaba Group and Tencent Holdings. Vietnam, Thailand, India and Russia are among those embracing a government-controlled model. China has also become the first government to intentionally use artificial intelligence for racial profiling, in this case its 11 million Uighurs, a Muslim minority group. Continue reading China’s Internet Model Gains Popularity Among Autocracies

Jeffrey Katzenberg and Meg Whitman formed NewTV to offer short original programming designed for smartphones. They believe they’re creating the next-generation HBO or Netflix, and many big players in Hollywood are betting they’re right. Katzenberg said that the holding company he co-founded, WndrCo, closed a $1 billion seed-funding round on July 31. Other backers include Disney, 21st Century Fox, NBCUniversal, Sony Pictures Entertainment, Viacom, AT&T’s WarnerMedia, Lionsgate, MGM, ITV and Entertainment One. Continue reading NewTV Plans to Bring Hollywood’s A-Game to Mobile Video

Facebook has been planning an “innovation hub” in Hangzhou, China — home to Chinese Internet leader Alibaba Group — to support that nation’s startups and developers as well as increase its own presence in the country. However, the approval that was briefly listed on a Chinese government database has now disappeared and, according to one source, the approval has been withdrawn. Facebook has been blocked in China since 2009, spurring the company to find other ways to position itself there. Earlier this year, it inked an agreement with Xiaomi to build a VR headset for the Chinese consumer market. The company planned to provide training and workshops through the proposed hub.

Continue reading Facebook’s Plans for Innovation Hub in China Hits Roadblock

Facebook revealed that it made a deal to give dozens of app developers, hardware device manufacturers and software developers special access to user data, despite having stated that it did not release personal information to outsiders starting in 2015. In a 747-page document released to Congress last Friday, Facebook described those deals in much greater detail, and also stated why it believed these special deals were necessary to allow developers and manufacturers to become compliant with changes in its policies. Continue reading Facebook Reveals More Data Sharing Details in New Report

As part of its efforts to expand in Asia and compete with Amazon, Google is investing $550 million in Chinese e-commerce platform JD.com. The partnership will include the Google Shopping advertising platform promoting JD.com products, which should help the Beijing-based Jingdong (formerly 360buy) reach beyond China and Southeast Asia markets to the U.S. and Europe. Google has been ramping up investments across Asia. The company recently invested in Indonesian ride-hailing company Go-Jek, and is reportedly considering an investment in Indian e-commerce upstart Flipkart. Continue reading Google Plans to Invest $550 Million in China Retailer JD.com

Alibaba Group’s entertainment unit has signed a new licensing deal with Disney that will make Disney’s movies and animated TV shows available in China via Alibaba’s streaming video service Youku and other distribution channels. In addition to more than 100 live-action and animated films, the agreement includes more than 1,000 episodes of Disney TV series, making Alibaba the largest distributor of Disney animated content in the region. The deal comes almost two years after the DisneyLife streaming video service ceased operating in China. Continue reading Alibaba to Stream Popular Disney Movies, TV Shows in China

China, the world’s largest market for silicon chips, has tried for years to challenge the dominance of Intel and Qualcomm in producing CPUs (central processing units). Some companies there are now seizing an opportunity to become No. 1 in the production of processors specifically aimed at artificial intelligence applications, from cars and smartphones to home appliances. Although Chinese companies jumped into AI from the beginning, they still face significant competition from Apple, Google, Intel and Qualcomm among others. Continue reading China Sets Sights on Dominating Global AI Processor Market

Less than one day after Snap Inc. posted disappointing quarterly results and its stock subsequently plunged, the company revealed that Chinese Internet titan Tencent Holdings recently purchased a 12 percent stake in Snap. Chinese tech companies such as Tencent, Alibaba Group and Baidu have been investing in U.S. firms. According to Morningstar analyst Ali Mogharabi, Snap’s main problems include declining user growth and competition from the more established Instagram. Disappointing ad revenue is reportedly also disappointing investors. Continue reading Chinese Tech Giant Tencent Buys 12 Percent Stake in Snap