Alibaba and Tencent are two household names in the global technology sphere. For a long time now, these two Chinese giants have slugged it out on their home turf in a struggle to achieve dominance in the growing Chinese internet consumer market.
On 18 June 2018, the founder of e-commerce conglomerate Alibaba, Jack Ma launched the company’s office in Kuala Lumpur. The office is Alibaba’s first in Southeast Asia and will be the first Electronic World Trade Platform (eWTP) hub outside of China.
When the region’s internet penetration rate started to grow in the mid-2000s, many users in Southeast Asia started yearning for their very own “Amazon”, an e-commerce site where they could simply place an order online and have their goods delivered to t
Jack Ma’s shopping spree is starting to weigh on Alibaba’s bottom line just as profit and revenue growth ease. And investors have shaved about $60 billion off its market value to voice their displeasure.
Chinese e-commerce giant, Alibaba has entered into a strategic partnership with the Thai government. It is representative of the growing collaboration between Alibaba and the Thai government.