JTA NEWS
15 October 2018 - 7 Heshvan 5779 - ז' חשון ה' אלפים תשע"ט
JTA NEWS :
ALIBABA GROUP TO OPEN R&D CENTRE IN ISRAEL AS PART OF GLOBAL EXPANSION E-mail

Alibaba, China’s top e-commerce firm, announced in October that Israel is to host one of eight R&D (research and development) centres as part of the company’s US$15 billion global drive to build overseas research hubs to help it compete with global leaders in e-commerce, logistics and cloud technology.

The Alibaba Damo Academy will launch research bases in China, the US, Russia and Singapore, and is hiring 100 researchers to work on artificial intelligence, quantum computing and fintech, the company said.

The Chinese giant and its affiliates have undergone a rapid expansion in the past year, bringing it into direct competition with US e-retailer Amazon, as well as global payments, cloud and logistics firms.

Since last year, Alibaba has invested roughly US$2 billion to acquire a majority stake in Singapore-based retailer Lazada. com, creating a network of e-commerce hubs across Southeast Asia in partnership with payment affiliate Ant Financial.

It has also pursued a US$1.2 billion bid for US money-transfer service MoneyGram, in a pending deal that has come under scrutiny from critics, who say it poses a national security threat.

Along with an existing data science research lab in California, Alibaba has opened new data centres in Europe, the US, the Middle East, Australia, Japan, India and Indonesia since 2016, in a bid to boost its cloud business.

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