Ecommerce and video seems to be the growing trend at least in Asia. According to a story published at Tech In Asia, Chinese e-commerce giant Alibaba has been holding secret talks with Sina, with the intent to invest in the company’s video platform.
The unconfirmed reports – which was initially published in the local language by Techweb – have not got word of confirmation from the companies involved. According to the industry experts, the deal is yet not finalized but negotiations are on behind closed doors.
While it might take some time before the news is confirmed still one cannot deny the growing affinity of Alibaba once known as China’s answer to eBay towards Sina, a Twitter-like service. In the month of April, Alibaba had agreed to buy an 18 percent stake in the Sina Corporation’s Weibo, the most popular of China’s microblogging services, for $586 million. With this stake Alibaba has the right to raise its stake to 30 percent in the service run by Sina.
The deal that valued Weibo at about $3.3 billion laid the grounds of synergy in ecommerce and social networking. Both Alibaba and Sina had agreed to find out interesting ways to integrate the feature of social networking with e-commerce and continue its popularity. A similar thing happened in the month of July, when Sina showed its interest in social commerce by planning to roll out an online banking platform.
Later Alibaba and Sina teamed up to launch a “Weibo-Taobao” platform to make it easier for customers on Weibo to shop on e-commerce site Taobao. The collaboration basically allows users to buy products directly on the Sina Weibo platform. The news came at a time when Alibaba confirmed that it has suspended the use of WeChat marketing applications on its e-commerce sites, citing misuse by sellers.
If the new move comes through, then it would mean that the eCommerce giant is thinking on the lines of Japan’s e-commerce titan Rakuten which recently acquired the video streaming site Viki, a premium video site that has been described as “Hulu for the rest of the world.” Sources are say the deal was pegged at $200 million.
Online video going ahead of traditional TV channels and product recognition through images and video is the future. Willis does a nice job explaining the same here and this definitely is the next trend – make online shopping more social.
Image courtesy: www.cs.com.cn