|Alibaba and JD make record-breaking sales for Singles Day 2020
Chinese e-commerce giants Alibaba and JD.com hit sales totaling $115 billion following the annual Singles Day shopping event. The Chinese economy has shown steady improvement since seemingly controlling the COVID-19 pandemic, which could have improved sales. Typically, Singles Day falls on the 24 hour period of November 11th, but this year, promotions began as early as November 1st. Alibaba reported a whopping $74.1 billion in sales over the eleven-day period, whereas JD reported $40.97 billion in sales. While both companies nearly doubled the prior years’ sales, the record achievement was overshadowed by steep stock falls for both companies.
On Wednesday, users across the world were met with error messages when trying to load videos on YouTube. At 7:23 PM ET, YouTube confirmed that there was, in fact, a problem. “If you’re having trouble watching videos on YouTube right now, you’re not alone – our team is aware of the issue and working on a fix. We’ll follow up here with any updates,” Team YouTube tweeted out. The outage seemed to span across the YouTube Infrastructure’s other services too, including movies and tv shows purchased through Google TV. While they did not disclose the cause of the outage, YouTube hopped back on Twitter around 9 PM ET to announce that the issue was resolved.
Though Brexit has already ushered out the UK from the European Union, there are still plenty of changes to come, including laws regarding immigration, trade, and intellectual property. The UK Intellectual Property Office (IPO) has published a webpage detailing the upcoming changes regarding intellectual property law that will “ensure a smooth departure from the EU IP systems.” These changes will affect trade marks, designs, patents, parallel trade from the UK to the EEA, and unregistered designs. From November 12, 2020, businesses have just 50 days to ensure that they are prepared for the changes otherwise they may risk interruption to business operations.
|New Business For Sale
For sale is a rapidly growing B2B Shopify App business in the conversion rate optimization (CRO) and analytics niche. Launched in 2017, this business offers proven split-testing software using advanced analytics via a simple interface, allowing e-commerce store owners to effectively boost conversion rate and drive sales. This business presents a great acquisition opportunity for a new owner to take over a well-established B2B SaaS business with a substantial and rapidly growing addressable market.
Some key highlights:
Request a prospectus from the link above to learn more.
|For more updates throughout the week on the financial world of online business M&A, follow our team on Facebook, LinkedIn, Twitter, and Instagram.|
- Ranks for 51,000 keywords and has secured 2,000 backlinks
- 70 well researched and in-depth articles with an opportunity to re-purpose content into a revenue-generating digital product
- Strong traffic statistics with over 2.1M page views and c.1.1M visitors over the LTM
- Successfully diversified affiliate partners after recent Amazon commission cuts
Yearly net profit: $202,000
Asking price: $586,500
- Firm foothold in the Local Journalism niche
- Strong revenue CMGR of 14% in the LTM
- Impressive traffic profile attracting over 4M unique visitors in the LTM
- Simple and lean cost structure with net margins of c.80%
Yearly net profit: $119,000
Asking price: $350,000
- Firm foothold in the Homeschooling Educational Resources niche
- Impressive revenue CMGR of 8% in the LTM
- Strong traffic profile attracting over 17,700 unique visitors in the LTM
- Simple and lean cost structure
Yearly net profit: $16,500
Asking price: $45,000
Until next week!
The FE International Team