NetEase Francisco July 27th news, according to Bloomberg, chairman of Alibaba vice chairman Cai Chongxin will serve as the word-of-mouth network, highlighting the strategic importance of this new business in the Alibaba to enter the local service on the market. Alibaba confirmed by e-mail on Monday, the company’s second executives Cai Chongxin will serve as chairman of word of mouth network.
Alibaba executives have stressed the importance of a foothold in the field of e-commerce (that is, what they call the O2O market), as people increasingly use mobile devices to purchase physical goods and services. Cai Chongxin joined Alibaba in 1999, before he was a lawyer for Sullivan & Cromwell law firm. He helped the Alibaba into global company, responsible for dozens of merger talks and early financing, including investments from softbank.
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Alibaba and its financial services subsidiary of the reputation of the network, with Baidu and Tencent for the local service market, is expected to 7 trillion and 280 billion yuan in 2017 China local services market size of up to ($1 trillion and 170 billion). In June this year, Alibaba and Zhejiang ant small and micro Financial Services Company reached an agreement to invest 3 billion yuan to help expand the Alibaba to block service. Word of mouth initially focused on food and beverage, in addition to other plans.
ant Kim Chi Chi Chi will serve as the word of mouth network CEO, responsible for day-to-day management. Local services are the key areas for the China Internet Corporation, because people are increasingly ordering takeaway, cosmetics and housekeeping services on the internet. IResearch Internet consulting firm in Shanghai, said China’s location-based services to users in 2017 to grow by 29% to 400 million people. Baidu announced on June, the next 3 years to expand investment in the business of glutinous rice network of 20 billion.
customer service group network is also in the field of competition, in January the company raised $700 million to expand its business. (Mu Xiulin)