Alibaba Group Takes Additional Steps to Help SMEs in China Turn to e-Commerce

BEIJING, March 31, 2009 /PRNewswire-Asia via COMTEX/ ----Alisoft, a wholly-owned subsidiary of Alibaba Group, today announced that it will offer free Internet-based management software to all 42 million small- and medium-enterprises (SMEs) in China as part of the Group's ongoing effort to make it easy for SMEs to do business using e-commerce.

The software, called "Shopkeeper(TM: 63.44, 0, 0%)", comprises an accounting and finance module in the initial edition to be launched today; an inventory management and a customer relations management module will both be available in May 2009. Shopkeeper(TM: 63.44, 0, 0%) will be free to SME users for at least three years. Apart from the free software license, Alisoft will provide free upgrades, training and customer support for all users. Shopkeeper(TM: 63.44, 0, 0%), a simple-to-use software targeted at key decision makers in SMEs, addresses the need of small business owners who desire to keep track of their money, inventory and customers.

To make Shopkeeper(TM: 63.44, 0, 0%) and other business software widely available to the market, Alisoft will invest up to RMB1 billion over the next three years to cultivate the SME-focused software industry, and further drive usage of Internet-based software, or "software-as-a-service", as a new paradigm of how businesses use technology to manage their operations.

"We are confident that this offering will bring a revolutionary change to how small businesses manage their operations in the coming years. While other traditional software companies have contributed to the market development in the past 20 years, we are hoping to see more new and innovative software companies join hands with us in nurturing the high-potential SME-focused software industry. The free offer signifies an important step we are taking from "Meet at Alibaba" to "Work at Alibaba". Alisoft, together with our parent Alibaba Group, will further forge ahead to build the best e-commerce infrastructure and ecosystem for businesses around the world," said Oliver Wang, President of Alisoft.

According to a report issued by the Center for Informatization Study of the Chinese Academy of Social Sciences in 2007, just under 5% of SMEs in China are using enterprise resource planning software, which demonstrates the tremendous potential for the business management software industry. Enterprise resource planning software includes a variety of basic, indispensable functions, including accounting, inventory and customer relations management. However, most enterprise management software available in the market is usually designed for large enterprises and is not cost effective for SMEs.

Shopkeeper(TM: 63.44, 0, 0%) is specially designed for business owners, serving as a tool to monitor the business operations and financial status of the business in a way understandable to business owners who do not have technical financial backgrounds. In addition to its accounting and cash flow management functions, the Internet-based software is also enabled via mobile access and allows SMEs to make online payments via Alipay, the online payment solution leader in China and a wholly owned subsidiary of Alibaba Group. Subscribers of Shopkeeper(TM: 63.44, 0, 0%) can also apply for loans under "Ali-Loan", the SME loan- assistance program initiated by Alibaba.com, which is supported by eight major banks in China.

About Alibaba Group

Alibaba Group is a global e-commerce leader and the largest e-commerce company in China. Since it was founded in 1999, Alibaba Group has grown to include the following core businesses: Alibaba.com, Alibaba Group's flagship company and the world's leading B2B e-commerce company; Taobao.com, China's largest consumer e-commerce company; Alipay.com, China's leading online payment service; Yahoo! Koubei, a company providing online classified listings for local services and search; and Alisoft.com, an Internet-based business management software company targeting SMEs in China.

About Alisoft

Alisoft ( www.alisoft.com ) is a wholly-owned subsidiary of Alibaba Group. It develops, markets and delivers Internet-based business management solutions targeting small businesses across China. Through its Software as a Service (SaaS) model, Alisoft provides small businesses with low-cost, user-friendly enterprise and financial management tools. It commands more than 40 percent of the Chinese SaaS market. Alisoft was the first in Asia to launch a "software store" platform that integrated advanced Internet, telecommunication and software applications. With support from the fast growing number of independent software vendors (ISVs) in China, its software store introduced an online supermarket for software on a pay-as-you-go basis.

About Alibaba.com

Alibaba.com Limited (HKSE: 1688) (HK.1688) is the global leader in business-to-business (B2B) e-commerce and the flagship company of Alibaba Group. Founded in 1999, Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business online through three marketplaces: a global trade marketplace (alibaba.com) for importers and exporters, a Chinese marketplace (alibaba.com.cn) for domestic trade in China, and, through an associated company, a Japanese marketplace (alibaba.co.jp) facilitating trade to and from Japan. Together, its marketplaces form a community of 38 million registered users from over 240 countries and regions. Headquartered in Hangzhou, Alibaba.com has offices in more than 40 cities across Greater China as well as in Europe and the United States.

About Alipay

Alipay is China's leading online payment service, enabling individuals and businesses to execute payments online in an easy, safe and secure manner. At the end of August 2008, Alipay had a registered user base of more than 150 million as of the end of February 2009, was facilitating 4 million transactions each day and had a daily payment volume of RMB700 million. Alipay partners with domestic PRC banks to provide an escrow service for payments, which reduces the settlement risks faced by Alipay's customers in their e-commerce transactions. Alibaba Group founded Alipay, headquartered in Hangzhou, in 2004.

Source: http://www.foxbusiness.com/

Alisoft to spend $146 mln to market its software

BEIJING, March 31 (Reuters) - A unit of Alibaba Group said on Tuesday it will spend up to 1 billion yuan ($146 million) over three years to promote its free Internet-based management software to Chinese small- and medium-sized enterprises (SMEs).

Alisoft will provide the accounting and financial management software, named Shopkeeper, to help SMEs do business over the Internet, said the unit of Alibaba Group, China's largest e-commerce group, in a statement.

Firms in the world's third-largest economy, especially SMEs that rely heavily on export, have been struggling in the face of dried up overseas demand.

The listed arm of Alibaba (1688.HK) said last week its latest quarterly net profit slid 35.4 percent from the previous quarter as it raised spending on marketing to counter deteriorating trade flows.[nPEK323396]

The software has already attracted over 135,000 users after a two-week trial run, according to the website of Alisoft, which was founded in 2007. ($=6.84 yuan) (Reporting by Michael Wei; Editing by Kirby Chien)

Source: http://www.reuters.com/

Julius Baer appoints Collardi private bank CEO

Alibaba News Channel - Swiss banking group Julius Baer appointed Boris Collardi as new chief executive of its private banking unit, a permanent replacement for Alex Widmer, who committed suicide in December.

Collardi, born in 1974 and currently chief operating officer of the private bank unit Bank Julius Baer, takes over from Johannes de Gier, who served as interim CEO following Widmer’s death.

"Mr. Collardi is young, not quite in his mid-30s, and he took over the COO position at a very young age, but I’m sure board wouldn’t have chosen him if that had been a caveat," said Kepler Capital Markets analyst Mattias Bueeler.

Source: http://www.hedgeco.net/

CompUSA Opens Sales Offices

CompUSA, the CE retail chain that essentially returned from the dead last year, is expanding its operations, opening new sales offices in two U.S. states, which will employ 35 people in total.

The retailer, which is owned by Systemax, has opened business-to-business sales offices in Boise, Idaho and Sioux City, South Dakota. The Idaho office will deal primarily with government and enterprise accounts, while the South Dakota office will handle small- to medium-size businesses. The offices mark the first significant moves into the Midwest and West; the company's stores are currently concentrated in Florida and Texas.

“This new business-to-business marketing force is a reflection of our strong position and our long-term strategic expansion plans,” said Gilbert Fiorentino, CEO of Systemax's Technology Products Group. “We plan to hit the ground running with this new team of seasoned professionals, with an average of 10-14 years of experience in the industry. They are the best in the business and will assist in expanding our B2B sales efforts.”

Source: http://www.dealerscope.com/