SoftBank Group founder Masayoshi Son has developed a plan to create an Internet company that could rival Big Tech companies Amazon and Google. Son wants to combine Yahoo Japan with Line Corp., a public company that SoftBank and South Korean corporation Naver Corp. plan to take private. The two would then be merged in a joint venture dubbed Z Holdings, scheduled to close by October 2020 given shareholder approval. The combined companies would share engineering resources and data and invest in artificial intelligence. Continue reading Yahoo Japan and Line to Merge, Plan For New ‘Super App’

When Walmart started a bank in the early 2000s, states passed laws to ban branches and Congress drafted a law to ban retailers from opening banks. Almost ten years later, Walmart threw in the towel, with its president for financial services Jane Thompson vowing the company would never try it again. That hasn’t stopped Google from announcing it will begin to offer checking accounts next year. Uber wants to open Uber Money, a bank for its drivers (and perhaps riders) and Facebook debuted Facebook Pay. Continue reading Big Tech Firms Pursue Financial Services Despite Setbacks

On November 11, Chinese e-commerce giant Alibaba brought in nearly $38.3 billion worth of goods in the 24-hour period known in that country as Singles Day. That surpasses last year’s Singles Day that bought in $30.8 billion. Both figures dwarf the numbers for Black Friday, the massive commercial day-after-Thanksgiving sale in the U.S. Alibaba invented Singles Day ten years ago and, since then, has become a tech giant along the line of Amazon or Alphabet. China also has become wealthier and more digitally connected. Continue reading Alibaba’s Singles Day Reaps $38.3B, Dwarfing Black Friday

In its last fiscal year, which ended in March, Alibaba Group’s 654 million customers bought $835 billion worth of goods, with revenues of $56.2 billion, cementing the company’s credentials as the world’s largest e-tailer. Put another way, the company handled more business than Amazon and eBay combined. Notably, 66 percent of Alibaba’s revenue — $36.9 billion — came from China. But translating that success to other countries has proven elusive — a mere 5 percent of the company’s revenue came from international locations. Continue reading Alibaba Dominates E-Tail in China But Fails to Thrive Abroad

SoftBank Group changed technology venture capital when it launched the Vision Fund in May 2017, by setting $100 million as the minimum investment. Since then, the Vision Fund, which raised almost $100 billion, has invested in Uber Technologies, Didi Chuxing Technology and other startups. Now, the Japanese company is debuting Vision Fund 2 and jumpstarting it with its own $38 billion investment. The fund, which will focus on artificial intelligence, has already drawn investment commitments from Apple and Microsoft. Continue reading SoftBank Debuts Vision Fund 2, Focused on AI Investment

IBM has a new strategy to compete with Amazon, Microsoft, Google and Alibaba in cloud computing: it spent $34 billion to acquire Red Hat, which specializes in open source software tools to write cloud computing applications. Red Hat already has partnerships with all the major cloud providers. IBM, a latecomer to this highly competitive sector, is presenting itself as a neutral party to those concerned about becoming too dependent on a single player. For this reason, Germany also has plans to build its own cloud infrastructure. Continue reading IBM to Take on Competitors with Its Hybrid Cloud Strategy

At Code Conference 2019 in Scottsdale, Arizona, Bond Capital general partner Mary Meeker delivered her annual, highly anticipated Internet Trends Report. The 333-page slideshow looked at trends from the growth of Internet ad spending to digital delivery services in Latin America. One eye-opening fact she reported is that about 51 percent of the world, equaling 3.8 billion people, used the Internet in 2018, up from 49 percent (3.6 billion) the previous year. Smartphone sales are slowing since so many people likely to be online already are. Continue reading Bond’s Meeker Predicts Our Digital Future in Annual Report

WebAuthn, with the approval of the World Wide Web Consortium (W3C) and the FIDO Alliance, just became an official web standard for password-free logins. After W3C and the FIDO Alliance first introduced it in November 2015, WebAuthn gained the support of many W3C contributors including Airbnb, Alibaba, Apple, Google, IBM, Intel, Microsoft, Mozilla, PayPal, SoftBank, Tencent and Yubico. With WebAuthn, which is supported by Android and Windows 10, users can log-in via biometrics, mobile devices or FIDO security keys. Continue reading Password-Free Logins Getting Closer to Becoming a Reality

In Japan, Recruit Holdings, the center of a corporate scandal that ended with the ousting of the prime minister, is being put back together by a group of employees. Whereas the former Recruit was a magazine publisher and job-placement firm, the new version is an Internet behemoth that combines the capabilities of LinkedIn, Zillow, Yelp, eHarmony, Booking.com, Square and many other apps. Recruit chief executive Masumi Minegishi is betting the company has the experience and resources to dominate consumer spending by 2030. Continue reading Japan’s Recruit Aims to Compete with Top Global Websites

A recently invented Chinese holiday, Singles Day, posted $1 billion in sales in 85 seconds on November 11, with a gala kickoff event headlined by singer Mariah Carey, model Miranda Kerr and basketball star Allen Iverson. For the holiday, the equivalent to our Black Friday, sales rose 27 percent, nonetheless the slowest annual increase in its 10 year history (last year sales rose 39 percent). Alibaba shares doubled in 2017 but this year are down 16 percent, the result of a slowing economy and U.S. trade tariffs. Continue reading Alibaba Breaks Singles Day Record, But Economy Is Slowing

Intel and China’s Tencent have partnered to create two AI-powered products. Announced at Tencent’s Global Partner conference, the two companies revealed DeepGaze, which uses artificial intelligence to track customers in brick-and-mortar stores, and YouBox, also designed for use in retail settings, an on-premises server that uses AI to input real-time feeds from up to 16 cameras. Both products were developed in Tencent’s YouTu Lab for computer vision research, and sport Intel’s Movidius Myriad chips. Continue reading Intel, Tencent Partner on New AI Products to Advance Retail

Facebook debuted Portal and Portal Plus, two video-calling devices, which sport a 12-megapixel camera with HD video and AI-empowered software — all in the service of video chatting. The AI is used to allow the camera to follow users. Portal and Portal Plus also include Amazon Alexa to play music or check the weather. Portal, with a 10-inch screen, is priced at $199, and Portal Plus, with a 15-inch screen that can be rotated, goes for $349. The devices will debut during the holiday season on a standalone website. Continue reading Facebook Unveils Video-Calling Devices Portal, Portal Plus

Some Indian leaders are resisting the dominance of U.S. Internet platforms and services such as Facebook’s WhatsApp, Google’s Android mobile operating system and Amazon’s e-commerce business, calling it a form of colonialism and vowing to regulate these foreign companies, especially regarding what they do with users’ personal data and how they might undercut prices offered by local businesses. India’s smartphone market, second largest in the world, is dominated by offerings from China, Taiwan and South Korea. Continue reading India Concerned Over Dominance of U.S. Internet Companies

India’s digital payment market is on fire, mainly due to new easy-to-use apps that also offer discounts and cash bonuses. The country’s banks, postal service and richest man (Mukesh Ambani) are investing in the arena, and even Warren Buffett, through Berkshire Hathaway, is reportedly taking a stake in the country’s leading digital payment company Paytm. Credit Suisse Group estimates that the Indian market will reach $1 trillion by 2023. China, meanwhile, already has a digital payments market valued at $5+ trillion. Continue reading Competitors Aim to Dominate India’s Digital Payments Market

Amazon has thus far dominated the cloud computing business, but Microsoft is now a strong No. 2. The latter, in a quarterly financial report, indicated that its Azure cloud computing unit grew 89 percent over the same period a year ago and demonstrated growth in other cloud offerings. Synergy Research Group reports that the overall “core cloud business” is valued at $60 billion a year, having grown by 50 percent in Q1 2018. Amazon is responsible for a 33 percent share, which had held steady since the end of 2015. Continue reading Microsoft Azure Grows to the No. 2 Spot in Cloud Computing