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Facebook Fined for ‘Misleading’ EU Over WhatsApp Deal
Alibaba Earnings Miss the Mark
China-based ecommerce giant Alibaba reported earnings of RMB158.27 billion ($23.82 billion) for the yearlong period ending Q1 2017, increasing 56% year over year. That was lower than analysts’ prediction for the company. Alibaba credited the miss to a higher tax bill, as well as investments made in cloud computing and entertainment aspects of its business as it continues to branch out beyond its core focus of ecommerce.
Softbank Pumps $1.4 Billion into Paytm Parent Company
India’s One97 Communications, the parent company of mobile payment and ecommerce platform Paytm, drew a $1.4 billion investment from Japan’s telecom firm Softbank. Alibaba and Ant Financial are also among One97’s major investors. The companies appear to be banking on the growth of digital payment services and the ecommerce sector in India. Paytm also plans to open a new payments bank by the end of May, which is licensed to accept deposits of up to $1,500 from both individuals and small businesses.
UK Investigating Digital Political Advertising
In a move said to be “unrelated” to the country’s current general election campaign, UK investigation commissioner Elizabeth Denham has opened a formal investigation into the use of data analytics for political purposes in the UK. The goal is to ensure that political campaigners and companies providing services to political parties operate within UK law. According to sources cited by The Guardian, the UK’s two leading political parties—Labour and the Conservatives—will each spend around £1 million ($1.4 million) to reach Facebook users alone in the run-up to the election on June 8.
Southeast Asia’s Carousell Mcommerce Platform Looks to Monetize
Singapore-based Carousell, which has established itself as a C2C mcommerce platform in several Southeast Asia markets, is now letting sellers pay to promote their listings. The move is the first step the platform has taken toward monetization.
Facebook Goes to Bat for Esports
Facebook unveiled a deal with ESL, an esports company, to broadcast games and related content, in a move that bolsters its video offerings.
Spain’s BBVA Offers P2P Payments via Messaging Apps
Financial services provider BBVA has rolled out a tool called BBVA Cashup that allows customers signed up to Spain’s Bizum mobile payment service to make instantaneous peer-to-peer payments from within messaging app such as WhatsApp, Messenger and Telegram, according to Telecompaper.
—Cliff Annicelli and Rahul Chadha
For several years, business leaders have been abuzz about digital transformation. But as much as the phrase gets thrown around, many executives and other employees may still lack an of understanding of what it means to digitally transform their company—and what that transformation will require.
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