Ali Baba’s Jack Ma has deep pockets after the company’s share offer raised US$21.8 billion from the stockmarket. It paid 1.18 billion yuan (US$192.8 million) for 51% of Tianhong, owned by Inner Mongolia Junzheng Energy & Chemical Industry Co.
Alipay (a sister company of Ali Baba) and Tianhong had in June launched a new fund and payment platform - called Yu E Bao, or "leftover treasure" in Chinese - to help Alipay customers convert spare cash into a money market fund holding. Check out what Reuters say here.
Ali Baba also bought a hotel technology company post IPO. It paid US$457 million for technology firm Beijing Shiji Information Technology Co, to strengthen its business-to-business hotel solutions position.
Beijing Shiji’s works with more than 400 hotels and is the preferred vendor in China for Grand Hyatt, Sheraton, Hilton, Shangri-la, Marriott, Peninsula and Accor. More here
Idealog has reported that post IPO, Ali Baba might be using its sister company Ali Pay to look for ecommerce solutions in foreign markets. Read story
Post IPO , Ali Baba is doing rather well, stable, says Barrons online
Don’t worry if you don’t understand Ali Baba, even the smart people don’t.