What Alibaba's 11.11 & Amazon's Prime Day Reveal About Each Company [Forbes]
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What Alibaba's 11.11 & Amazon's Prime Day Reveal About Each Company In the nineties and early 2000s, the narrative was that Chinese companies were simply copying Western ideas and concepts to create successful Internet businesses in China. Today, it’s become pretty clear that Western companies are looking to China Look no further than Amazon’s Prime Day. While Amazon's CEO Jeff Bezos is famous for working on the business that is two or three years in the future Prime Day got its start in 2015, six years after Chinese e-commerce giant Alibaba created Singles Day in 2009 – which has since grown to be the world’s largest shopping festival with $30.8 billion in gross merchandise volume last year. Prime Day is increasingly looking a lot like Alibaba’s 11.11 Global Shopping Festival. For the past four years, Alibaba has kicked off its 24-hour event with a live streamed star-studded gala to get fans excited about the shopping holiday – a strategy they call “retail-tainment.” This year, Amazo
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- Alibaba to delay second listing in Hong Kong [CNN]CNN
- Exclusive: Alibaba postpones up to $15 billion Hong Kong listing amid protests - sources [Reuters (UK)]Reuters
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