Alibaba Groups digital technology company Alibaba Cloud launched Project AsiaForward with an initial USD 1 billion funding. The funding helps to cultivate a million-strong digital talent pool, empower 100,000 developers and the growth of 100,000 technology startups in Asia Pacific (APAC) region over the next three years.
- The Project will invest in infrastructure, technological innovation and talent development to contribute to local economic growth through digital transformation as the trusted cloud leader in APAC.
- Alibaba Cloud is the digital technology and intelligence backbone of Alibaba Group.
- It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform and IoT services.
The prominent investments and deals by Alibaba Group are featured below:
April 2021: To increase presence in Turkeys e-commerce market, Alibaba has invested approximately $350 million in Trendyol. With this deal Alibaba has increased its stake to 86.5% in Trendyol.
Jan 2021: To accelerate digital economy the Russian Direct Investment Fund (RDIF), alongside Mubadala Investment Company (UAE) and a number of leading sovereign wealth funds of the Middle East, announced completion of their joint investment in AliExpress Russia JV (AER JV).
Nov 2020: In order to strengthening the economic recovery of Malaysia, the Aeropolis in joint efforts with Alibaba Group announce the commencement of operations of the new e-fulfilment hub, Cainiao Aeropolis eWTP Hub, Malaysia.
Oct 2020: The leading technology giant Alibaba Group Holding Limited announced to acquire controlling stake in China based Sun Art Retail Group Limited for approximately $3.6 billion. The Sun Art is a leading hypermarket and supermarket operator in China.
June 2020: The municipal government of Yiwu, in Zhejiang Province in China announce partnership with Alibaba Group to develop a Digitized Comprehensive Bonded Zone under the eWTP (electronic World Trade Platform) framework.
June 2020: Alibaba Group announced that its data intelligence company Alibaba Cloud, will invest US$283 million during this fiscal year to empower global partners and accelerate joint innovations in the post-pandemic era.
May 2020: Alibaba Group Holding Limited had contributed approximately $480 million to support the global fight against Covid-19. The support includes waiving the operating fee for merchants, providing financial support and low- or zero-interest loans, opening up Alibabas digital service capabilities and offering flexible employment opportunities.
December 2019: Industrial and Commercial Bank of China (ICBC), Alibaba Group (Alibaba), and Ant Financial Services Group entered a comprehensive strategic partnership to enhance the services available to users by deepening their level of cooperation in the key areas of fintech and financial services.
November 2019: Alibaba Group sign agreements with Government of Ethiopia to Establish eWTP Ethiopia Hub. The eWTP (electronic world trade platform) Hub is intended to enable cross-border trade, provide smart logistics and fulfillment services, assist Ethiopian small and medium-sized enterprises (SMEs) to reach China and other markets, and provide talent training.
About Alibaba Group
Alibaba Group is one of the leading e-commerce multinational conglomerate, based in China. Alibaba businesses are comprised of core commerce, cloud computing, digital media and entertainment, and innovation initiatives. Alibaba is acquiring a 33% equity stake in Ant Financial, which will provides payment and financial services to consumers and merchants on Alibaba’s platforms.
An ecosystem has developed around Alibaba platforms and businesses that consists of consumers, merchants, brands, retailers, other businesses, third-party service providers and strategic alliance partners.