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The results of the Chinese giant e-commerce Alibaba for the beginning of 2019 have just fallen, and they are impressive. Net profits have doubled and seem to completely ignore the gloomy effects of the trade war that worries stock markets around the world.
It is a stainless growth shown by the Chinese giant e-commerce Alibaba, in the middle of the trade war , and next to a Chinese industry that is starting to run out of steam.
In the first quarter of 2019, Alibaba's net profit more than doubled. At the root of this success is an almost 20% increase in active users, very good revenues from "cloud computing", the launch of 300 new products in artificial intelligence in particular.
Driven by this momentum, Alibaba has increasingly international ambitions, including its Ali Express platform known for its low prices, that the Chinese giant opens to Russian, Spanish, Italian and Turkish sellers this year, by not making them pay entry fees. Alibaba hopes to become an international platform, and even compete with Amazon .
A symbol of this unprecedented success, one of its co-founders has just bought the New York basketball club, the Brooklyn Nets.
Joseph Tsai, co-founder of Alibaba, has reached an agreement with Russian businessman Mikhail Prokhorov to seize full control of the Brooklyn Nets NBA franchise, the club said on Friday.
Official: Mikhail Prokhorov will sell the rest of his share of the Nets (51%) as well as 100% of the Barclays Center to Joe Tsai.
The official statement. ⤵️https: //t.co/32NdvRg5Ab