Enterprise

Alibaba buys into Asia’s ecommerce boom with controlling stake in Lazada

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Chinese Internet titan Alibaba made the headlines recently after announcing its biggest overseas acquisition yet. The deal will see it take control of Lazada, one of the most popular names in ecommerce in Southeast Asia, earning the reputation as the region’s Alibaba or Amazon.

Despite online shopping accounting for only 1 percent of retail sales in the region today, Southeast Asia has seen a rapid climb in ecommerce sales in recent years, and is expected to maintain double-digit growth rates for the next several years.

The agreement comes in the wake of earlier acquisitions that gave Alibaba control of the South China Morning Post, Hong Kong’s biggest English-language newspaper, and Chinese video-streaming service Youku Tuduo.

Alibaba also invested $500 million in Indian ecommerce startup Snapdeal. There are others, but listing them might make you less inclined to read the rest of this post. Suffice to say, the Chinese firm has been on a spending spree for quite a while now, and its latest purchase no doubt makes sense financially and strategically.

Lazada, which sells everything from diapers to sofa to smartphones and operates in the Philippines, Indonesia, Malaysia, Singapore, Thailand, and Vietnam, will essentially allow Alibaba to buy into markets where it has limited traction rather than expand its Taobao and Tmall sites outside of its home market of China. Why risk billions in expansion dollars to build an ecommerce empire from the ground up when you can buy one?

In a statement, Alibaba said it was investing $500 million in newly issued shares, plus an additional $500 million to acquire equity from current shareholders, for a total of $1 billion. Alibaba also said it has the right to buy out the remaining shares from investors after a 12- to 18-month period for an all-out acquisition. Lazada currently has a $1.5 billion valuation, according to its founder, Rocket Internet.

Speaking of the landmark deal, Alibaba president Michael Evans said: “With the investment in Lazada, Alibaba gains access to a platform with a large and growing consumer base outside China, a proven management team and a solid foundation for future growth in one of the most promising regions for ecommerce globally.”

Hopefully for online shoppers in Southeast Asia, Alibaba’s billions will translate into a marketplace that rivals what the Chinese have been enjoying for years now, something Lazada has so far failed to achieve since its founding in 2011.

TechCrunch previously wrote that Lazada generated $191 million in sales over the first nine months of 2015, but shelled out $233 million in operating costs for the said period.

[irp posts=”4610″ name=”HP’s affordable convertible is coming to Lazada PH”]

Source: TechCrunch

Enterprise

MediaTek hosts world’s first demo of Wi-Fi 7

Here’s what to expect

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We’ve come a long way from dial-up. Now, the name of the game is Wi-Fi 6. Amid the rise of 5G connectivity, the home internet sector is adopting the current standard for their devices. But, of course, the advance of technology is not stopping. As Wi-Fi 6 tries to take over the entire market, the industry is already working on Wi-Fi 7. With development well underway, what can you expect from the upcoming standard?

Naturally, better speeds. Recently, MediaTek showcased the world’s first live demo of the new technology. In an impressive show, the standard will reportedly achieve speeds 2.4 times faster than what Wi-Fi 6 can do. The technology can maximize uses for the current spectrums available for Wi-Fi at up to 6GHz. The technology can also reduce latency and interference using MLO and MRU features.

According to MediaTek, Wi-Fi 7 will support the ever-growing need for faster internet speeds brought on by emerging uses for online users. These needs include AR/VR applications, cloud gaming, 4K video calling, and 8K streaming. With technology advancing the way it is, high-speed internet — even faster than what’s available today — is turning into a necessity to cope with multi-user households.

MediaTek predicts that products that can support Wi-Fi 7 will start coming out in 2023.

SEE ALSO: Mediatek, AMD collaborate on new Wi-Fi 6E Modules

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Facebook faces British privacy lawsuit worth billions

For allegedly selling its users’ data

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The hits just don’t stop coming. Since being called out for alleged manipulation during the 2016 elections (and arguably before that), Facebook has endured hit after hit from privacy pundits, security firms, and global courts. Now, after much deliberation, criticisms and lawsuits against the platform are finally coming to roost. In Britain, for example, Facebook stands to lose billions in a privacy lawsuit from Britain.

As reported by Reuters, Britain’s Financial Conduct Authority senior adviser Liza Lovdahl Gormsen filed the huge lawsuit to represent British citizens who used the platform between 2015 and 2019 — which approximates 44 million people. The suit alleges that Facebook used unfair terms and conditions to force users to give up their rights to their own information. The entire lawsuit is worth GBP 2.3 billion (or approximately US$ 3.15 billion). Though Facebook is worth over US$ 100 billion now, such a lawsuit likely isn’t insignificant to the company.

But, of course, it doesn’t come without precedent. Last year, the company was scrutinized extensively because of whistleblower Frances Haugen’s revelations. According to the former Facebook employee, the platform knowingly creates ruptures in societies everywhere in the world. Besides its effect on mental health and geopolitics, Facebook was also criticized for selling personal data and treating its users as marketable products.

While Britain’s claim is already extensive, it is far from the only country looking to break the company up. The platform is also facing issues in its own home turf for the same charges. The year is just starting, and this likely won’t be Facebook’s last trip to the legal battlefield.

SEE ALSO: Facebook will force at-risk users to use two-factor authentication

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Samsung inexplicably delays Exynos 2200 launch

No new date set yet

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Before launching the next Galaxy S flagship series, Samsung often unveils the attached Exynos processor ahead of time. However, this year’s Exynos 2200 is still suspiciously absent. According to sources, Samsung was initially set to launch the new chips on January 11. Since it’s already February 12, the chip’s launch is obviously delayed for an inexplicable reason.

The delay did not come with any warning. The Exynos 2200’s launch date came and… nothing. No word from Samsung on a delay reason or even a new launch date. Even Ice Universe, one of the most knowledgeable sources for Samsung, is scratching their head, wondering why Samsung suddenly backed out of the date.

It isn’t Samsung’s first delay, though. Since the start of the ongoing COVID-19 pandemic, the world is going through a massive semiconductor shortage. Several devices have been delayed or are undergoing stock problems. Samsung had already pushed back dates in the past. However, this is a rare last-minute delay.

Of course, despite the delay, Samsung still has time to release the Exynos 2200 before the Galaxy S22’s launch. According to a recent source, Samsung is set to launch the next flagship series on February 8. The upcoming chipset will reportedly perform at par with the recently launched Snapdragon 8 Gen 1. Amid inexplicable delays, Samsung still has several launches up its sleeve.

Postponements likely won’t mean much in the grander scheme of things, but it will be an interesting tale to hear why Samsung had to back all of a sudden.

SEE ALSO: Samsung unveils 2022 sustainability initiatives

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