![](https://investorshub.advfn.com/uicon/543808.png?cb=1625044763)
Thursday, November 21, 2019 7:51:08 AM
Alibaba’s latest move in new retail: Investing in milk delivery startup Tianxianpei
Alibaba now controls a 50% stake of the company.
By Song Jingli
Yesterday
20
shares
Alibaba is now a shareholder of Shanghai-based milk delivery startup Tianxianpei, according to changes in corporation registration information.
Fresh off of a record-breaking November 11 bonanza, the tech conglomerate now holds a 50% stake of the digital milkman, while Chinese milk producer Mengniu Dairy owns the other half of the company, according to corporate intelligence information provider TianYanCha.
Tianxianpei, which was set up in July 2018 under Mengniu’s new retail department, allows residents to order fresh milk and yogurt products on Tmall and pick them up in refrigerators near their residences. The platform exclusively offers Mengniu’s dairy products, and claims that it has entered nearly 600 neighborhoods in more than 20 major cities in China, but it has yet to cultivate broad service coverage, and is far from being a household name.
Tianxianpei’s online-to-offline model differs from that of conventional milk delivery services. Specifically, the company’s refrigerators eliminate the possibility of milk spoiling after being left in ambient temperature for too long. And for maximum convenience, its app allows users to designate a pick-up time.
Alibaba’s investment may mark yet another attempt to incorporate new services into its new retail strategy, which is an idea shaped by Jack Ma that describes the convergence of online and offline commerce. In March 2015, Alibaba created Freshippo, also known as Hema, to put new retail into practice.
Freshippo resembles most other supermarkets as it sells all manner of groceries — fresh fruits and vegetables, as well as live seafood. But at Hema’s headquarters, roughly half of the staff are software engineers. While conventional supermarkets gather payment information at the checkout counter, Hema knows about its customers even before they walk in, including phone numbers, recent Alipay transfers, and items that they may have browsed on the Hema app. Other tools are adopted too, like heat maps that indicate where customers spend the most time in stores.
Following this investment, Alibaba shares are expected to begin trading on November 26 in Hong Kong. It is set to price its shares at HKD 176 (USD 22.48) apiece.
Recent BABA News
- MSME Day 2024: Alibaba.com Commits to Scaling AI Tools for MSMEs • PR Newswire (US) • 06/27/2024 11:00:00 AM
- MSME Day 2024: Alibaba.com Commits to Scaling AI Tools for MSMEs • PR Newswire (US) • 06/27/2024 11:00:00 AM
- Doordash and Deliveroo Terminate Talks; Universal Announces UK Theme Park Plan, and More News • IH Market News • 06/26/2024 11:08:35 AM
- AliExpress Launches New Global Advertising Campaign for Olympic Games Paris 2024 • PR Newswire (US) • 06/25/2024 06:00:00 AM
- AliExpress Launches New Global Advertising Campaign for Olympic Games Paris 2024 • PR Newswire (Canada) • 06/25/2024 06:00:00 AM
- AliExpress Launches New Global Advertising Campaign for Olympic Games Paris 2024 • PR Newswire (US) • 06/25/2024 06:00:00 AM
- UPS Divests Coyote Logistics in $1.025 Billion Deal with RXO, Under Armour Agrees to $434 million Settlement, and More News • IH Market News • 06/24/2024 11:00:20 AM
- Alibaba.com Teams Up with UEFA EURO 2024™ as Official B2B E-Commerce Partner to Elevate SME Success • PR Newswire (US) • 06/07/2024 01:00:00 PM
- Alibaba.com Officially Launches Alibaba Guaranteed: Making Global Sourcing as Simple as Online Shopping • PR Newswire (US) • 06/06/2024 10:00:00 AM
- Alibaba.com Officially Launches Alibaba Guaranteed: Making Global Sourcing as Simple as Online Shopping • PR Newswire (US) • 06/06/2024 10:00:00 AM
- AliExpress to Give Away Over 1,000 UEFA EURO 2024™ Match Tickets to Shoppers • PR Newswire (US) • 05/30/2024 07:00:00 AM
- AliExpress to Give Away Over 1,000 UEFA EURO 2024™ Match Tickets to Shoppers • PR Newswire (US) • 05/30/2024 07:00:00 AM
- Alibaba Group Announces Completion of US$5 Billion Offering of Convertible Senior Notes • Business Wire • 05/29/2024 11:30:00 PM
- iPhone Sales Skyrocket in China, Nvidia Surges in Pre-Market Following xAI Fundraising, and More News • IH Market News • 05/28/2024 11:37:48 AM
- Online B2B Spend on Sporting Products on the Rise Ahead of Sports-Fuelled Summer • PR Newswire (US) • 05/28/2024 09:00:00 AM
- David Beckham Unveiled as AliExpress Global Ambassador Kicking Off with the Launch of a UEFA EURO 2024™ Campaign • PR Newswire (US) • 05/27/2024 07:00:00 AM
- David Beckham Unveiled as AliExpress Global Ambassador Kicking Off with the Launch of a UEFA EURO 2024™ Campaign • PR Newswire (Canada) • 05/27/2024 07:00:00 AM
- David Beckham Stars In AliExpress Campaign for UEFA EURO 2024™ • PR Newswire (US) • 05/27/2024 07:00:00 AM
- Alibaba Group Prices US$4,500 Million Offering of Convertible Senior Notes • Business Wire • 05/24/2024 12:09:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/23/2024 08:04:58 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/23/2024 01:56:55 PM
- Alibaba Group Announces Filing of Annual Report on Form 20-F for Fiscal Year 2024 • Business Wire • 05/23/2024 01:40:00 PM
- Alibaba Group Announces Proposed Offering of Convertible Senior Notes • Business Wire • 05/23/2024 01:34:00 PM
- Form 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/23/2024 01:14:49 PM
- OpenAI and News Corp Seal Partnership, DuPont de Nemours Announces Division, and More News • IH Market News • 05/23/2024 11:40:51 AM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM