Connect with us
BitStarz

News

Alibaba Registers $38.4 Billion During Its Singles’ Day Sales

Published

on

Alibaba Registers $38.4 Billion During Its Singles' Day Sales
Photo: GettyImages

A record-breaker As It Nets $1 Billion In Just 68 Seconds.

Alibaba, the number one Chinese online market registered a whopping sum of $38.4 Billion during its ‘Singles’ Day’ sales today. An amount equivalent to ¥268.4 billion in the native Renminbi currency of China. And displacing its previous record of $30.7 billion haul from last year, which was the highest sales to be recorded on any e-commerce platform prior to now. Hitting a $1 billion mark a little after the first minute. It went on to report over $12 billion in sales within the hour, which surmounted to $22 billion by the next 8 hours.

Tagged ‘Double 11’ due to its November 11th (11/11) date, this event turns out to be the world’s biggest online shopping event in recent times. The ‘Singles’ Day’ kickstarted with a 24-hour shopping blitz headlined by renowned pop-star – Taylor Swift on Sunday night at Shanghai stadium. This year’s countdown also featured a Livestream on Tmall by Kim Kardashian for her fragrance line as well as local celebrities such as Jackson Yee. Aside from the obvious, the fortuity of the ceremony also indicates continuous progress for Alibaba as it marks the first Singles’ Day without its former boss and Founder – Jack Ma.

Earlier today, the online shopping retail store reported tremendous patronage like never seen before. Enjoying more than half a billion visitors from all over the world with well over 200,000 participating brands. Although introduced by Alibaba in 2009, the event also included other Chinese e-commerce companies. Alibaba, therefore, established an online trading consortium that jointly agrees to offer a tremendous discount to the Chinese crowd over the 24-hour period. Subsequently gaining more traction outside of China, including Singles Day discounts by Alibaba’s subsidiary – Lazada in Singapore, Malaysia, Indonesia, Thailand, and Vietnam. And even in the far west, such as NIKE and Brooks Brothers in the US.

Photo: Forbes

Although a similar event has been hosted in the US, such as the five-day span ‘Black Friday’, ‘Cyber Monday’ and ‘Prime Day’. The Single’s Day festival is far more lauded than its American counterparts, hence the involvement of a handful of American brands in the event. Yet, following a survey by AlixPartners, 80% of the Chinese shoppers precluded plans to boycott the 400 US retailers looking to run promotions for Singles Day. Regarded as the Chinese’s informal shopping holiday. And according to Forbes, the outcome of the one-day event last year, eclipses that of the US celebrated Thanksgiving, Black Friday, Cyber Monday and Amazon’s Prime Day – combined.

Another data analytics platform – Adobe Analytics, forecasts a colossal increase in the US shopping events this year aggregating $143.7 billion. Further proposing that Cyber Monday might amount to $9.4 billion in total sales while Thanksgiving could generate an estimated $29 billion this year.

Advertisement BitStarz

Internet

Trump Endorses Apple To Provision 5G Connectivity In The US

Published

on

Trump Endorses Apple To Provision 5G Connectivity In The US
Photo: Statesman

During his visit to Apple’s MacBook Pro manufactory in Austin, Texas, President Donald Trump urged the tech giant to see to the provision of a 5G network in the U.S. This was revealed in the event of acknowledging Apple’s billion-dollar campus project – by the US President.

According to a tweet by Tim Cook – the CEO of Apple, this campus is said to have been in existence since 2013. However, it was officially launched on Wednesday with an expectation to accommodate over 5,000 employees, and the capacity to house 10,000 more in the near future. Also, this facility serving to be the primary production unit of Apple’s MacBook PCs demonstrates Apple’s loyalty to its home country. And Because Apple didn’t move its production of the desktop computers to China as earlier announced. Cook loftily asserts that;

“Building the Mac Pro, Apple’s most powerful device ever, in Austin is both a point of pride and a testament to the enduring power of American ingenuity.” and “With the construction of our new campus in Austin now underway, Apple is deepening our close bond with the city and the talented and diverse workforce that calls it home. Responsible for 2.4 million American jobs and counting, Apple is eager to write our next chapter here and to keep contributing to America’s innovation story.”

Evidently, Trump’s call on Apple for 5G tech comes as a bid for the US to be at the forefront of the US-China trade war. And as China continues to pioneer the 5G flag flawlessly. Subsequently places the US on detriment on the trade ban with these Chinese companies.

Although there has been recent news about other telecoms service providers as Verizon, AT&T, Sprint, and T-mobile, making the 5G LTE network available in the US. However, the trend currently cuts across only a select few cities and not yet widespread in the US.

Hence Trump leveraged on Apple’s vast resources to call upon the companies’ involvement in the fifth generation of cellular network technology. Requesting Apple to provide 5G to the masses in the US, as it is currently in China.

Even though 5G technology does not fall under Apple’s niche, Trump nonetheless beseeched Cook with the question during this event. Although the official paper by the White House about the visit does not document any statement relating to 5G technology.

This was however confirmed following a tweet by the President on Thursday;

Tweet:

The fact that Trump requests for Apple’s involvement in 5G technology either bespeaks the President’s tech ineptness, which is understandable. Or probably an indication of the close tie that exists between the President and Apple’s CEO.

A fact that does not inspire with awe, as Trump had earlier considered excluding Apple from China tariffs at the said event. But what strikes a wonder is whether Apple would answer to this call or remain adamant towards its involvement with cellular network technology.

Continue Reading

News

Wikipedia Co-Founder Debuts A Crowd-funded Social Media Platform Which Claims To Fully Protect Users’ Right

Published

on

Wikipedia Co-Founder Debuts A Crowd-funded Social Media Platform Which Claims To Fully Protect Users' Right
Photo: WT.Social

Contrary to the Ad-funded social media platforms propagated by tech companies such as Google, Facebook, and Twitter, comes the birth of a new Social network – WT:Social. Founded by the Co-founder of Wikipedia – Jimmy Wales, this new social platform is a crowd-funded community that is maintained via the contributions of its Users.

Although the platform is free to join, yet the WT:Social ecosystem runs on a subscription basis. Such that newly registered Users are shortlisted on a ‘waiting list’. And can only be included in the platform when they make contributions through donations or help build up the community by inviting a friend. 

Therefore, in order to become a member of the social network, it requires a monthly fee of $12.99 or $100 per year in the U.S. While the said donation plan goes for €12 per month or €90 per year and £10 per month or £80 per year in Europe and UK respectively. 

Currently, WT:Social enjoys over 160,000 Users according to a tweet by Wales. However, its Proprietor envisages that the platform has the capacity to attain 500 million Users, as is the company’s target. As stated by Wales;

“Obviously the ambition is not 50,000 or 500,000 but 50m and 500m. If we grow from 400 users today (you’re in on the ground floor!) to 400 million, we will have revolutionized the Internet and shown a better and more healthy way to share information and collaborate with each other.”

Photo: WT:Social

Given that WT:Social started out as Wikitribune – A site dedicated to publishing only factual news, the platform’s number one goal is to combat fake news and bad actors. Also, WT:Social aims to grants Users full control and provide them with an informative social media engagement rather than a click-bait experience.

But what remains to be known is the kind of content to be distributed on the platform that could maintain its utility in the long term. Considering the fact that the site would have its Subscribers register with a fee, precludes the involvement of Users from developing countries (which is one of the secret ingredients behind the larger communities present on Facebook and Twitter).

Hence, WT:Social would have to do a lot in terms of the content it distributes. So to attract more Users and compete with the likes of Facebook that presently enjoys an audience of over 1.5 billion users worldwide.

Continue Reading

Trending