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Story of Alibaba

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The traditional marketplace has seen little change over the past few 100 years. You’ve got a buyer. You’ve got a seller. Which then leads to a transaction. But over the past couple of decades, things have started to change at an unprecedented pace. And perhaps no company is reshaping that experience more than Alibaba.

What is Alibaba?

Alibaba is one of the world’s largest retailers. The company has more than 500 million people using its shopping apps every month and if you’re thinking its scale is limited to China, well think again. It has operations in more than 200 countries.
The company was founded by CEO Jack Ma in 1999 with 17 other people. And he knew he was onto something big.
Jack Ma (CEO) Alibaba

Jack Ma (CEO)

“When I have a competitor like Google or eBay, as a Chinese local company, we can learn a lot, we can improve ourselves. They should be careful of us.”

Alibaba set the record for the biggest IPO in history, which took place at the New York Stock Exchange in 2014.

And the year 2017, Alibaba was the first company in Asia to exceed the $400 billion valuation mark, an honor that had previously only been held by American companies. Alibaba is amongst other global eCommerce giants transforming the marketplace from Physical Market Places to Online Market Places.


Also Read: What is an IPO?

The company is made up of three main sites, Taobao, Tmall, and Alibaba.com. Combined, they have hundreds of millions of users and host millions of merchants and businesses. Which means they can pretty much be used by anyone, anywhere, for anything.

Alibaba Office out logo

Alibaba

So how does it even work? Meet our fictional character, John, she lives in Beijing. John wants to buy a new blender, so he logs onto Taobao. He finds one he likes, being sold by, let’s say, Chris. He lives in Shanghai and sells the blenders to individuals at a competitive price. When John goes to check out, he doesn’t use his credit card. He uses AliPay to purchase the item. Think of it like using PayPal. Chris then accepts the AliPay payment from John.

So where did the supplier, Chris, get the blenders from? Well, he bought a supply of 1,000 units on 1688.com, the popular Chinese version of Alibaba.com. It sells bulk orders to suppliers like himself.

He bought his batch from a manufacturer named Keith on TMall which allows businesses to sell wholesale. Keith owns a blender company and production facility in Shenzhen which produces the items and other kitchen appliances. Previously, Chris only sold to individual buyers in China. But recently, he’s listed his blenders on AliExpress, which sells to customers outside of China.

So now, Laura, who’s living in California and found the blender on AliExpress, can also buy it from Chris. And yes, she can even use Alipay too.

Of course, importing products from China into the U.S. is nothing new. The difference? Now, anyone in the world can do it on their mobile device and all through the same company. But it’s not the only eCommerce. Chris has been selling so many blenders lately that he wants to grow his business faster. But he doesn’t have the money to buy more units from Keith. So Chris uses AntFinancial, to get financing. The loan helps him order an extra 10,000 units.


Also Read: What is Xiaomi?

So, for buying, selling, digital payments, and even financing, you’ve done it all in Alibaba’s platforms. And Alibaba now includes a shipping company, a messaging app, a movie studio named Alibaba Pictures, and more. Alibaba’s growth is primarily fueled by China’s massive population and rising middle class, but Jack Ma wants world domination for the company.

That’s why Alibaba is investing heavily in companies in other markets as well. Most of which are also being pursued by Amazon. The marketplace as we know it has changed forever. And it’s likely going to be companies like Alibaba which continue to lead its evolution.

So this was all about Alibaba. Hope you enjoyed reading the Article also visit our other articles and stay tuned for more interesting articles like this.

Source: CNBC
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Why Is America So Rich?

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Why is America So Rich

The United States is the world’s most prosperous economy. It’s been that way for so long, over a hundred years. That we take it for granted. But how did it happen? There are many answers, of course.

One is that the United States values the free market over government control of the economy. But here’s a point that is seldom made: It didn’t begin that way. Before the country placed its trust in the free market, it trusted the government to make important business decisions. Or to put it another way, only after the government failed repeatedly to promote economic growth and only after private enterprise succeeded where the government failed, did the United States start to develop a world-beating economy.

Let’s look at three telling examples: In 1808 John Jacob Astor formed the American Fur Company and marketed American furs around the world. Europeans adored beaver hats for their peerless warmth and durability. Astor gave them what they wanted.

American Fur Company

American Fur Company

Instead of leaving the fur business to capable entrepreneurs like Astor, the government decided it wanted to be in on the action. So, it subsidized its own fur company run by a self-promoting government official named Thomas McKenney. McKenney should have won the competition. After all, he had the federal government backing him. But while Astor employed hundreds of people and still made a tidy profit, McKenney’s company lost money every year.


Also Read: Reason Behind Indian Economy Growth

Thomas McKenney

Thomas McKenney

Finally, Congress in 1822, came to its senses and ended the subsidies for McKenney and his associates.

A similar situation developed in the 1840’s around the telegraph. The telegraph was the first step toward the instant communication we have today. Invented by Samuel Morse, the telegraph transmitted sound – as dots and dashes representing letters of the alphabet.

Morse, more of an idealist than a businessman, agreed to let the government own and operate the telegraph “in the national interest.” But the government steadily lost money each month it operated the telegraph.

telegraph

telegraph

During 1845, expenditures for the telegraph exceeded revenue by six-to-one and sometimes by ten-to-one. Seeing no value in the invention, Congress turned the money-loser over to private enterprise. In the hands of entrepreneurs, the business took off.


Also Read: Why is Dubai so Rich?

Telegraph promoters showed the press how it could instantly report stories occurring hundreds of miles away. Bankers, stock brokers, and insurance companies saw how they could instantly monitor investments near and far. As the quality of service improved, telegraph lines were strung across the country – from 40 miles of wire in 1846 to 23,000 miles in 1852.

By the 1860s, the U.S. had a transcontinental telegraph wire. And by the end of that decade entrepreneurs had strung a telegraph cable across the Atlantic Ocean. Why didn’t the US government profitably use what Morse had invented?

Part of the answer is that the incentives for bureaucrats differ sharply from those of entrepreneurs. When the government operated the telegraph, Washington bureaucrats received no profits from the messages they sent, and the cash they lost was the taxpayers’, not their own. So government officials had no incentive to improve service, to find new customers, or to expand to more cities.

But entrepreneurs like Ezra Cornell, the founder of Western Union, did. Cheaper, better service meant more customers and more profits. Just fifteen years after Congress privatized the telegraph, both the costs of construction and the rates for service linking the major cities were as little as one-tenth of the original rates established by Washington. In the steamship business, we see the story repeated yet again.

Western Union

WU

During the 1840s, regular steamship travel began between New York and England. The government placed its bets on shipowner Edward Collins, a man more skilled at political lobbying than at business. While Congress funded Collins, Cornelius Vanderbilt started his own steamship company. Vanderbilt cut the costs of travel, filled his ships with eager passengers, and built a fabulously successful business, soon leaving Collins in his wake.

Collins failed because he didn’t feel a need to improve, or even provide safe and regular service (for example, two of his four ships sank, killing hundreds of passengers). If he lost money, there was always another politician to appeal to.


Also Read: India, the new SUPERPOWER?

Vanderbilt, in contrast, had to serve his customers or he would have lost his company. You’d think we would have learned our lesson by now: economic prosperity comes from free enterprise, not from government subsidies. But it’s a lesson we have to learn every generation.

So, this was all about how America became Rich. Comment your thoughts on America (United States).

Source: PragerU
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Todays News: Rs. 40 Crore Microscope, Silk Hair, Warren Buffett

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Hello, welcome to newsbooklet for today’s big news headlines. Without any more wasting of your time, let’s start.

 

Rs. 40 Crore microscope to view atoms

IITM unveils 40 crores microscope @newsbooklet

IIT Madras has accomplished its task in making world’s first remotely operated Local Electrode Atom Probe also known as LEAP, which is capable of providing 3D images of the atoms present side by side of any material. This expensive instrument which cost around Rs. 40 Crore is being funded by Department of Science and Technology along with India’s top eight research institute which comprises of IIT Bombay, IIT Delhi, and IIT Kanpur. LEAP can be taken in use in many departments of Automobile and energy-related industries.

 

App Store revenue is double to that of Play Store

App Store:PLay store revenue @newsbooklet

Many of us pay on the App Store and Play Store for our favorite games, movies, and Books. And so this creates a revenue for the companies. Apple’s App Store had generated about $22.6 billion worldwide whereas the Play store managed to drive $11.8 billion according to the Sensor Tower. This is during the first half of the year. Taking a look at previous years revenue, App Store managed to make $38.5 billion compared to Google Play Stores $20.8 billion. So according to Thai statics, it looks they will be able to make a record-breaking revenue as compared to the year 2017.


Also Read: 10 Health & Fitness Gadgets by Xiaomi

Silk-based hair follicles made

IIT delhi makes silk based hair @newsbooklet

IIT Delhi is being successful in developing silk-based hair follicles which will be helpful in testing the new medicine which is for the treatment of hair loss. For this earlier, the animals were used but if we believe to researcher Sourabh Ghosh, physiological differences in animal and human hair are very high which makes the success rate very less. This was the reason that a 3D in vitro novel of human hair was needed which is now possible.

 

Charity of $3.4 billion by Warren Buffet

warren Buffett @newsbooklet

Warren Buffet who is amongst the richest person on the world has donated $3.4 billion to charity institutions. This was the stocks of Berkshire Hathaway which are now for the Bills and Melinda Gates Foundation and other four charity institute which tie up with the Buffet family. In his 87 years of life, he has donated $30.9 billion counting since 2006.


Also Read: Best Laptops for College Journey

Golden Temples entrances to be gold plated

Golden Temple entrance domes with 160kg gold @newsbooklet

Entrances of Golden Temple has golden domes which symbolize that the shrine’s door are always open for everyone. And to keep this dome golden, they are to be plated with 160 kg of gold which will be donated by the devotees. According to the officials, most of the devotes donate their jewelry, but they also donate cash for the gold.

 

Russian woman charged for spying

Russian Woman spying US @newsbooklet

A 29 years old Russian woman is being charged by US government under the act as signifying her as Russian Government agent when she was developing some ties with an American citizen and trying to infiltrate the political groups of US. Maria Butina has developed close relations with the Republican Party of US and was successful in securing a place of an advocate for gun rights.

 

Publicly drinking in Goa is finable

Alcohol at goa beach gets fine @newsbooklet

Goa Chief Minister Manohar Parrikar has said that drinking alcohol in public will now be an offensive act which is to bring in fine of Rs. 2500 which will be started from August 15. The government is yet to issue an official letter but Parrikar said it will be released before August. This step is to prevent the littering of alcohol bottles in the state and making it a cleaner place.


Also Read: What is Xiaomi (Mi)?

Hawaiian tour boat hit by Lava Bomb

Lava bomb hots boat @newsbooklet

Lava Bomb

A Hawaiian tour boat was hit by a Lava Bomb in which 23 people were injured due to the breaking to vessel’s roof and the air coming in. According to the officials, this tour boat was outside the US coastguard safety zone. Many be wondering about the Lava Bomb, so it is a natural phenomenon in which a huge cloud of smoke rises due to the mixing of lava and water.

 

2 Indians in the ‘Worlds Highest Paid Celebs’ list

Akshay and salman highest paid actors @newsbooklet

Very much loved actors Akshay Kumar and Salman Khan have made their way to the list of Worlds Highest Paid Celebrities list of Forbes. Akshay Kumar with the earning of $40.5 million (Rs.276 crore) was ranked 76th whereas Salman Khan with earning of $37.7 million (Rs. 256 crores) was ranked 82nd amongst the top 100 highest paid celebrities. Boxer Floyd Mayweather has topped the list of highest paid celebrity with the earning of $275 million.


Our Daily news Series: DAY IN SHORT

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Todays News: Flying Taxi, OnePlus 6 Red, 2.5 Crore Cyber attack (FIFA WC)

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Let’s Get started with Todays News. (16 July 18′)

OnePlus 6 Red Edition to go on sale In India on 16 July(Today)

Oneplus 6 red Edition-newsbooklet

Oneplus has announced the launch of the OnePlus 6 Red Edition priced at Rs.39,999. Featuring 8GB RAM and 128GB built-in storage, OnePlus 6 Red Edition is a dramatic take on the OnePlus 6 which will be available for sale from 12:00 noon on 16th July. OnePlus Bullets Wireless will also go on sale at 12:00 noon on 16th July.

 

Regret Wasting 10 years in corporate life: Furlenco CEO

Ajith Karimpana - Furlenco CEO-newsbooklet

Bengaluru-based furniture rental startup Furlenco’s Founder and CEO Ajith Karimpana in a recent interview said that his greatest regret was that he “wasted ten years in corporate life”. Further, on being asked about his greatest fear in life, Karimpana said he fears he would fail his employees. Karimpana founded Furlenco in 2012 which lets users rent furniture by the month.


Also Read: Vivo Nex : Another Start for Bezel-less display

Roll-Royce unveils air Taxi concept that flies at 402 kmph

Rolls-Royce-air taxi- newsbooklet

Rolls-Royce has unveiled an hybrid-electric air vehicle concept that can travel at 402 kmph speed for approximately 800 km. The craft has wings that rotate 90 degrees to allow it to take off vertically and can carry 4-5 passengers. The automaker has already designed a propulsion system for the taxi and is looking for partners to develop the project.

 

Russia blocked 2.5 crore cyber attacks during FIFA WC: Putin

FIFA-World-Cup-2018-Trophy-cyberattacks-newsbooklet

Russia neutralized nearly 2.5 crore cyber attacks and other criminal activities against the information infrastructure of the country during the FIFA World Cup, President Vladimir Putin has said. Branding the FIFA World Cup a success, Putin thanked representatives of 55 special services and law enforcement agencies from 34 countries which helped ensure security during the month-long tournament.


Also Read: Best Laptops for College Journey

BJP should name Mallya ‘Make in India’ ambassador: Shiv Sena

mallya a make in india ambassader @newsbooklet

Slamming BJP’s Tribal Welfare Minister Jual Oram for calling fugitive Vijay Mallya ‘smart’, an editorial in Shiv Sena’s newspaper ‘Saamana’ said the BJP should name the liquor baron its brand ambassador for ‘Start-Up India’ and ‘Make in India’. Clarifying his remarks, Oram had later said he accidentally took Mallay’s name and it was a mistake.

 

Govt, private Universities cannot hike fee on their own: SC

University fees @newsbooklet

The Supreme Court has ruled that both government and private universities cannot raise their fees arbitrarily without approval from the Committee on Fee Fixation. Every state is required to have an independent committee headed by a retired high court judge to oversee educational institutes’ fee structure. The SC was hearing a petition against fee hike in Tamil Nadu’s Annamalai University.


Also Read: Reason Behind Indian Economy Growth

Trump Putin mocked by Finnish newspaper over press freedom

Trump Putin mocked by Finnish newspaper @newsbooklet

Ahead of the summit between US President Donald Trump and Russian President Vladimir Putin, Finland’s largest newspaper Helsingin Sanomat mocked the two leaders with billboards reading, “Mr. President, welcome to the land of free press.” “As we welcome the presidents…we want to remind them of the importance of free press,” the newspaper’s Senior Editor-in-Chief Kaius Niemi tweeted.

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