Alibaba Pictures Acquires Cinema Ticketing Software Provider

 

Alibaba Pictures has acquired Guangdong Yueke company which shall increase its presence in entertainment industry.

Latest Alibaba news surrounds the latest acquisition that happened. The e-commerce giant has not only been seen as one of the most prominent but also one of the most promising companies that have taken the monetization aim to another whole new level, also the company has begun marking its presence globally by extending the initial online store to the ‘Cloud Hospital’ and now also with the presence in entertainment industry. The Alibaba Pictures Group has recently showed the green flag for buying the cinema ticketing software for $134 million which is approximately 830 million Yuan. Alibaba Pictures Group is a subsidiary of Chinese e-commerce giant, Alibaba Group Holding.

Alibaba news reports that the acquisition happened through Zhong Liang Sheng Shi Culture, which is a subsidiary of Alibaba Pictures when it acquired the Guangdong Yueke Software Engineering Company which was previously owned by Yueke Technology Financial Group which is state-run. The software engineering company was acquired on 20^th April in the result of an open bidding which was held at Southern United Assets and Equity Exchange in China. It is said that the acquired company has been working with more than 1,000 theaters across the country. It also provides the software for connecting systems to many big names in online ticketing. It includes Alipay, Meituan which is a site for group-discount and Tencent Holdings.

Yueke is considered to be among the six companies that have received an approval from regulators in China where they can provide systems for online-ticketing.  The earning for the company as per the records have been $1.8 million in profit which is 11.3 million Yuan. It was earned on the revenues of the $8.4 million or 51.8 million Yuan.

The shares pertaining to Alibaba Pictures had initially been halted on 20^th April. It has rose to 14.9% since the time it has resumed the trading on Wednesday.

The world has observed enhancing features of what Alibaba has been putting forth as far its entertainment presence is concerned. This is where the company has planned to take its business presence outside e-commerce. On 8^th April, the e-commerce giant proposed that it shall inject its business pertaining to online-ticketing and its crowdfunding businesses regarding movie production into Alibaba Pictures sector.

One of the prominent advantages that Alibaba Pictures will have with this acquisition is that it will work with larger number of movie theatres and also be able to connect those theatres with millions of users by utilizing the parent company, Alibaba’s platform designated for e-commerce, as per the resources from filing. The value of Alibaba Pictures is expected to increase as well.

 

Alibaba Aims To Help Sinopec With Big Data and Cloud Computing

 

Alibaba and Sinopec to come together and work on big data and also to explore the areas of business possibilities further.

Latest Alibaba news is regarding the Chinese e-commerce giant is deciding to help Sinopec related to big data and cloud computing. The details are that Sinopec is the biggest oil refiner in Asia and therefore the e-commerce giant shall help it with services regarding cloud computing and the big data analytics. The company announced it via microblog that e-commerce titan shall collaborate with the oil refinery giant in order for providing technical services. The China Petroleum and Chemical Corporation or Sinopec did not disclose the money that was involved in the deal.

Cooperation between the private enterprise’s poster child, Alibaba and the state owned one of the biggest companies merges with government policy.

Other behemoths and Sinopec are under pressure in order for the information technology to be utilized in a better way and also to take advantage of the big data and cloud computing so they are able to track the essential things like demand, supply and emissions.

Alibaba is a company who has made the biggest record in New York with initial public offering of $25 billion. Alibaba news reports that the Chinese e-commerce titan has been trying to come at good terms with the government to furnace the agreements regarding cloud computing and other numerous government bodies or the ones run by the state.

The director of cloud computing business Aliyun which comes under Alibaba Group Holding Ltd, Allen Zhang said that “by helping Sinopec with digitization and big data technologies, we hope we can play a part to help bring about greener solutions and new business opportunities.” The statement was said in an email confirming the collaboration.

The oil refinery giant expressed that the alliance between Sinopec and Aliyun is aimed to help improvise few of the oil companies and their traditional service regarding petrochemical.

Aliyun has decided to help the oil refinery giant, Sinopec develop  business systems that are cloud based and also to perform data analytics which shall cover the entire chain of petrochemical production.

The two giants from different businesses are said to take the collaboration to another level by aiming for Internet of Things, finance, vehicle networking and online payments, online to offline commerce and etc.

Aliyun has 23 percent of market share in China and is considered to be the biggest service provider when it comes to cloud computing.

The deal seems to have a lot of weightage because Alibaba is trying to monetize and also to make its global position firm with the passage of time and Sinopec on the other hand is exploring new horizons.

 

 

Alibaba Group Holding Proposes Asset Injection In Its Movie Arm

 

Alibaba has begin to integrate the subsidiary businesses to strengthen its online presence and e-commerce in China.

Latest Alibaba news is about the company proposing the asset injection into the unprofitable movie arm of it which means getting shares in the mounting entertainment business. Alibaba Pictures which is Hong Kong listed expressed that the parent company, Alibaba Group proposed to make the online movie ticketing business a folding into it and also the crowdfunding businesses which are movie production based.

Alibaba Pictures shares that are Hong Kong traded had been halted March 24 have been raised by 37% the time they were resumed on Wednesday last week. The announcement by Chinese e-commerce giant does not include the specific business units that are going to be discussed for the asset injection. But Alibaba news reports that the businesses are most likely to be Taobao Movie which is a ticketing website by Alibaba and Yule Bao which is a platform providing the ability for the Chinese investors to invest in the movies. These services had been launched by the parent company, Alibaba Group Holding last year. The integration according to the e-commerce giant is going to be a powerful one since it incorporates the e-commerce due to the huge base of users and also on the other side is the production subsidiary. The new business model will be created if the injection that has been proposed is carried out. The business model will be for the filmmaking companies that traditionally the companies in China lack.

If this integration is carried out successfully then it will boost the Alibaba Group’s presence and monetization in the entertainment industry which is surrounded with problems for now. Alibaba Pictures had come into being at the time when 60% of the stake was bought by Alibaba Group in China Vision Media Group which is a native movie studio.

The deal is beneficial due to the fact that it incorporates the financial arm of the movie to the ticket sales operations that generate revenue. But this won’t make a significant difference to the online businesses of the parent company.

“Integrating these two businesses complements Alibaba Pictures’ existing lines of business and helps realize Alibaba Group’s vision of making digital media entertainment available to our customers anywhere anytime,” says Alibaba in an email.

The binding offer has not been put by the parent company though, at this point. There are no agreements that have been reached by the companies and  no terms on the table yet. In order for the users to keep using their platforms, Alibaba and its rivals have enhancing their businesses by entering the entertainment business as well.

 

Alibaba Displays Pay-With-Your-Face Technology in Germany

 

Alibaba’s founder Jack Ma showed off facial recognition being used as a future of e-payment method.

Internet Tycoon belonging to China, Jack Ma and also the founder of Alibaba which has emerged as an e-commerce giant unveiled the future where the e-payment will take a new turn. The facial recognition system will be incorporated with e-payment. This was displayed by the tech giant founder at CeBIT IT fair conducted in Germany.

Jack Ma, inspired by the style of Silicon Valley pioneer, showed off the technology that uses facial recognition as a digital signature. According to the latest Alibaba news, the facial recognition can be performed from a selfie captured by a smartphone. He also said that he just used the technology to send a gift to the event’s host city’s mayor. The even had been in Hanover.

Ma is a former teacher and has been known for thinking beyond the borders. At CeBIT, he was the essential and leading speakers. He was addressing a huge audience in Germany which also included Angela Merkel, the German Chancellor.

Like many other companies residing in China, Alibaba is planning to explore new horizons and planning to think out of the box. Also, wishes to expand from the huge market of 1.2 billion in China to the entire world.

Ma explained that the industrial revolution had freed the workers from intense labor and as far as the digital revolution is concerned, it will free the human beings from extensive thinking and liberates the brain’s strength.

He said that the technology does not change the world but the dreams behind that technology do.  He expressed that his dream was to enhance the small organizations and make them able to sell on global market.

As per the Alibaba news, the founder has not made its global ambitions hidden and has often quoted Wal-Mart, Microsoft and IBM as that of inspirations.

Alibaba exploits the analysis of user data, much like Google.  Commissions are not charged by company from users but profits from advertisements.  The trade carried annually on the company’s platforms is exceeding that of Amazon and eBay combined. It should be kept in mind that most of its trades are still happening mostly in China.

The company has its own online payment system that it operates, named Alipay. This will form into a private bank for which Beijing has given approval to the e-commerce giant. The company has also offered an online music streaming service which recently signed a deal with BMG music, a navigation system and a lot of other things. It is planning to not only become global but also become more than an e-commerce giant for which it has already started playing around in the market.