Consumer Economy

This is Ambani’s second fundraising spree. Prior to this, he raised USD 20.2 billion for Reliance’s digital arm Jio Platforms from 13 high-profile global investors.

China’s two biggest short video platforms are racing to an IPO.

As for user accounts, Pinduoduo could overtake Alibaba as soon as next quarter.

During this year’s Big Billion Days, Flipkart sold over USD 2.5 billion worth of goods, almost double than that of Amazon’s.

Strong China retail sales buffer group against fintech affiliate’s IPO turmoil.

Mech Mocha is backed by top tier investors including Accel Partners, Blume Ventures, Shunwei Capital, and AET Fund.

Alibaba co-founder Jack Ma is in possession of 34% of Ant Group’s shares.

The e-commerce firm will leverage Microsoft’s expertise in building a resilient cloud infrastructure to support Bukalapak’s services for more than 100 million customers.