SHANGHAI — Chinese e-commerce giant Alibaba’s recent acquisition of a minority stake in microblogging service Weibo could forge a new model for social commerce in the country, the world’s second-largest online shopping market behind the U.S.
Alibaba, which owns Taobao.com and Tmall.com, two of China’s largest e-commerce Web sites, said earlier this week that it is buying an 18 percent stake in Sina Corp.’s Weibo, considered China’s answer to Twitter, for $586 million in stock. Alibaba has the option to raise its stake to 30 percent.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)