Alibaba Sales Slow But Still Rise 30%, Wayfair’s Sales Boom 67% and Turn Profit and Amazon to Invest $2.8B to Build Second Data Center Region in India
Alibaba Sales Slow But Still Rise 30%
Alibaba Group Holding Ltd.’s revenue grew at its slowest pace on record for the September quarter, underscoring how the ecommerce giant’s post-pandemic rebound is beginning to plateau. Asia’s largest corporation reported a 30% rise in sales in the September quarter, in line with expectations but down a bit from the previous three months, That did little to reassure investors worried about the tightening regulatory scrutiny that forced Jack Ma’s Ant Group Co. to call off its $35 billion IPO. CEO Daniel Zhang would only say it’s evaluating the impact on its business from more stringent rules governing its 32%-owned sister company. “As Ant Group’s major shareholder, Alibaba is actively evaluating the impact on our business in response to the recently proposed changes in the fintech regulatory environment, and will take appropriate measures accordingly,” Zhang told analysts on a conference call.
What stood out to us? 30% growth sounds awful. So does regulation.
Wayfair’s Sales Boom 67% and Turn Profit Again
Home furnishings giant Wayfair Inc. posted another quarter of surging revenue, 66.5% year over year, reaching $3.84 billion in Q3 2020, along with $173.2 million in profit for Q3. The 66.5% growth means an extra $1.53 billion in revenue for Wayfair this quarter. Wayfair is benefiting from several broad consumer shopping trends spurred by COVID-19: more consumers shopping online and more consumers purchasing home goods. “The home category is seeing broad-based demand as our customers reprioritize their spending on where and how they live, and away from other experiences like travel, entertainment and dining,” CEO Nirjah Shah told investors on an earnings call this week according to a SeekingAlpha transcript.
What stood out to us? How many couches will one buy during COVID?
Amazon to Invest $2.8B to Build Second Data Center Region in India
Amazon will invest about $2.8 billion in Telangana to set up a new AWS Cloud region in the southern state of India, a top Indian politician announced on Friday. The investment will allow Amazon to launch an AWS Cloud region in Hyderabad by mid-2022, said K. T. Rama Rao, Minister for Information Technology, Electronics & Communications, Municipal Administration and Urban Development and Industries & Commerce Departments, Government of Telangana. “The new AWS Asia Pacific (Hyderabad) Region will enable even more developers, startups, and enterprises as well as government, education, and non-profit organizations to run their applications and serve end users from data centers located in India,” the ecommerce giant said.
What stood out to us? Who owns the data?
In the headlines
- Eyeing it out: Grainger eyes a big future for its new mobile visual search tool.
- Confidential: Petco confidentially files IPO papers.
- Did someone say pie: Ecommerce makes up a bigger portion of the distributor sales pie.
Before you go
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