by Staff Writers
Shanghai (AFP) July 29, 2015
Chinese e-commerce giant Alibaba will invest $1.0 billion in its cloud computing arm to expand its international presence, the company said Wednesday, as it looks outside its core business and beyond traditional markets.
The Aliyun unit will use the funds in part to set up cloud computing centres in Singapore and Japan, as well as in the Middle East and Europe, Alibaba said in a statement.
New York-listed Alibaba's Tmall.com site is believed to command more than half the Chinese market for business-to-consumer transactions, while its Taobao platform holds more than 90 percent of the consumer-to-consumer market in China.
The Aliyun unit already provides cloud computing services through five data centres in China and its special administrative region of Hong Kong, and earlier this year made its first foray further afield with one in the US technology hub Silicon Valley.
"This additional $1.0 billion investment is just the beginning," Alibaba's chief executive officer Daniel Zhang said in the statement.
"Our hope is for Aliyun to continually empower customers and partners with new capabilities and help companies upgrade their basic infrastructure."
Alibaba offers business services to several companies through the Internet "cloud" including US chip giant Intel, Singapore Telecom (Singtel) and Hong Kong-based Towngas, the statement said.
Alibaba on Wednesday also announced it will pursue "strategic collaboration" with a Chinese software company, Yonyou, for cloud computing, big data and other areas, it said.
Space Technology News - Applications and Research
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.|