News this week: E-commerce
company Alibaba Group has expanded the services provided
by its group shopping website, Juhuasuan,
to cover Hong Kong and Taiwan. Juhuasuan previously did not
support orders outside mainland China. The platform aggregates daily deals of
products and services listed on Alibaba’s consumer-focused Taobao Marketplace.
Launched in 2010, Juhuasuan recorded US$3.33 billion in
transaction volume last year – more than double its 2011 volume.
Separately, Alibaba announced two new senior management
appointments this week. Maggie Wu has been promoted from deputy CFO to CFO
replacing long-time CFO, Joe Tsai. Mr. Tsai will become executive vice chairman
of the Alibaba Group effective 10th May 2013. Tsai is one of the 18
co-founders of the Alibaba Group and is also a member of the company’s board of
directors.
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