Morning Beat: Alibaba Group Holding Ltd (BABA), Cisco Systems, Inc. (CSCO), and Facebook Inc (FB)
Alibaba Group Holding Ltd(NYSE:BABA) sold 3 trillion Yuan ($462 billion) worth of goods last year according to the company’s executive vice chairman Joe Tsai. The total sale’s is three times the total volume sold in 2012 and double 2013 levels. The company says it achieved the milestone with ten days left on its fiscal calendar.
At the current rate, the e-commerce behemoth is on track to eclipse Wal-Mart Stores, Inc. (NYSE:WMT) as the world’s largest retailer. It is a goal the company has been eyeing since 2013. Alibaba Group Holding Ltd (NYSE:BABA)’s rapid growth has allowed small businesses to emerge in the realms as they continue to reach millions of shoppers across the country.
Cisco Systems, Inc. (NASDAQ:CSCO) has partnered with Berlin’s government in a $500 million investment push that seeks to digitalize the lives of the city’s residents. Areas of focus on the initiative include telemedicine, security, and infrastructure improvements.
The IT firm plans to establish a health platform that will allow healthcare professionals and emergency services to share data with ease as part of its telemedicine push. The platform should also help bolster medical care for refugees in the city.
Through a horizontal-networking Infrastructure Cisco Systems, Inc. (NASDAQ:CSCO) also plans to link companies and organizations looking to leverage various digital solutions. The network will come with both security and analytics capabilities.
Facebook Inc (NASDAQ:FB) has dealt BlackBerry Ltd (NASDAQ:BBRY) yet another blow after stating it is planning to pull support for its flagship app on the mobile platform. The confirmation comes less than a month after WhatsApp reiterated similar plans.
BlackBerry Mobile platform has been battered by Android and iOS platform which continue to dominate the space. The loss of Facebook Inc (NASDAQ:FB) support which is the world’s largest social media could further derail any efforts that seek to reinvigorate the company’s prospects.
Few Users will be willing to tag along with BlackBerry devices with the lack of Facebook and WhatsApp apps on the ecosystem.
Facebook Inc(NASDAQ:FB) CEO, Mark Zuckerberg, has held talks with China’s Propaganda chief, Liu Yunshan, as authorities continue to tighten control over the country’s cyberspace. The talks came even as the giant social media remains banned in the country.
State media, Xinhua News Agency, reports that Yunshan told Zuckerberg that he hoped Facebook would share its experience with local companies to help internet development benefit many people. Zuckerberg has long been courting China, seen as a marketplace that could offer the company exciting growth opportunities. China boasts of 668 million active internet users.
Facebook Inc (NASDAQ:FB) is unlikely to get its wish of being allowed to operate in the communist’s state as Beijing is aggressively increasing control over the country’s internet.
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