Alibaba runs a global e-commerce site that is one of the most visited in the world. Now it wants to get into the smartphone business. If this idea sounds funny, remember, Amazon has been trying to do the same thing.
But Alibaba is taking a different approach. Rather than come out with its own brand, it's reportedly purchasing a $590 million stake of the existing China-based smartphone maker Meizu. According to Reuters, this is a minority stake in the company, not enough to give Alibaba control. Read More
The Ouya raised $8.6 million on Kickstarter, and to its credit, the promised $99 Android-powered game console was delivered and works as described. The problem is that it just wasn't very good in the grand scheme of things. The outlook on Ouya hasn't been particularly positive, but maybe that's about to change. The Wall Street Journal reports that Chinese retail giant Alibaba has swooped in with a $10 million investment
In the last week, many tech-savvy westerners have gotten more familiar than they probably would have ever liked to with a Chinese company by the name of Alibaba. Most of those people still probably aren't aware just quite how huge the Hangzhou-based firm is.
Its net worth is somewhere in the neighborhood of $30-$40 billion. It employs over 25,000 people. Its campus is a piece of architecture worth appreciating on its own merits. Read More