Alibaba has started to sponsor application developers to create more apps for China’s growing e-commerce market.
The Chinese ecommerce company, Alibaba Group Holding Ltd., has taken a step to address the concerns of the newly established business. Alibaba news exclaimed that the company has allocated $163,000,000 for speeding up the process by which Chinese high-tech startups establish smartphone applications for on-demand local services.
The company’s affiliate Ant Financial Services group would also contribute to capacity of the application developers, as it has decided to lend a fund of 1,000,000,000 Yuan at a lower interest rate. Alibaba news today informed that the two financial facilities are being offered as a part of Shengyi 1.0 programme launched on Thursday at the retail giant’s software developers conference organized in its home city of Hangzhou.
The said programme also included launch of series of training workshops for developers. The enterprise anticipates that the development-related initiative would promote its technologies, such as location-based services and online payment, in a new generation of mobile applications.
Alibaba breaking news affirmed that the CEO of organization, Daniel Zhang Yong, has regarded diversity as a benefit for the mobile network, which provides great opportunities. As the largest market for modern phones having the speediest launch of the fourth generation mobile network, the world’s second largest economy has witnessed its consumers having rapidly started to utilize applications for benefitting from a host of services, such as purchasing movie tickets, hiring cabs, and ordering take out lunches.
Commercial sources indicated that an application introduced in the organization’s developer’s conference was Aiqianggou, which means to “seek a bargain”. It was launched 2 years and 4 months ago. A user can find special promotional incentives at nearby shops and pay for products with their smartphones.
The disclosed application employs the location-based services provided by Alibaba’s AutoNavi subsidiary. Official sources highlighted that Shengyi 1.0 is a part of the firm’s programme known as Baichuan that was pioneered last year to promote mobile application developers.
Alibaba’s vice president, Wang Xiruo, has stated that the commercial model for standalone shopping web pages have become outdated in the era of mobile internet. He added that the company expects the electronic commerce industry would facilitate the development of specialized mobile applications. The two organizations have previously invested $1,000,000,000 into an O2O joint venture called Koubei, which has been established to help customers order meals online.
Market professionals believe that the Chinese enterprise’s initiative would not only ease the difficulties of the company but also improve its reputation. Its management should now ensure that the invested funds are utilized in the best possible manner in order to appease the sponsored startups.
Alibaba has previously intended to enter the USA to benefit from a large market. It should eye out for rising issues along with its attempts.