Tag: Alibaba

  • Alibaba launches AI model ‘Tongyi Qianwen’ as ChatGPT rival for enterprise testing

    Alibaba launches AI model ‘Tongyi Qianwen’ as ChatGPT rival for enterprise testing

    Alibaba has launched its long-awaited ChatGPT rival, “Tongyi Qianwen,” for enterprise testing. The launch is not open to the general public but is restricted to a few eligible enterprises. Currently, the company is extending invitations to enterprise users only to participate in experience testing. Interested users can submit their applications via the official website, and those who meet the eligibility criteria will be considered for participation.

    “Tongyi Qianwen” is a highly advanced AI model designed to understand and respond to human commands. It serves as an efficient assistant and can even generate ideas. The model is being developed by Alibaba’s advanced research institute, the DAMO Academy. For many years, Alibaba DAMO Academy has been involved in cutting-edge scientific research fields such as natural language processing (NLP) and has been developing large models since 2019.

    Alibaba plans to integrate its AI large-scale model technology with the DingTalk productivity tools. Alibaba’s large-scale model is scheduled to be launched on April 11 at the 2023 Alibaba Cloud Summit, along with several industry-specific application models that will follow. Additionally, it has been reported that the company is set to release a large model, which could be comparable to ChatGPT 2.5, in the second half of this year.

    Alibaba DAMO Academy is the research and development arm of Alibaba Group, one of the world’s largest e-commerce companies. The academy was founded in 2017 and focuses on cutting-edge research in areas such as machine learning, artificial intelligence, natural language processing, and quantum computing. The academy has several research centers located in China, the United States, Israel, Singapore, Russia, and other countries.

    The goal of the academy is to use its research to support Alibaba’s businesses and to make significant contributions to the academic and scientific communities. The academy has partnerships with leading universities and research institutions around the world and collaborates with top researchers in various fields.

  • Daraz Group to reduce 11% workforce in response to challenging market conditions

    Daraz Group to reduce 11% workforce in response to challenging market conditions

    Daraz Group, an e-commerce subsidiary of Alibaba Group, will be reducing its workforce by 11 per cent in response to the challenging market conditions.

    The CEO, Bjarke Mikkelsen, noted the adverse impact of a war in Europe, significant supply chain disruptions, rising inflation, heightened taxes, and the elimination of crucial government subsidies on the company’s operations, which are in Pakistan, Bangladesh, Sri Lanka, and Nepal.

    Daraz, which was founded in Pakistan in 2012 and acquired by Alibaba in 2018, is the largest e-commerce platform in Pakistan and serves over 100,000 SMEs in the country.

    According to Ehsan Saya, Managing Director of Daraz in the country, Pakistan remains the company’s largest market with the largest number of employees across its markets.

    He adds, “almost one-third of the staff in Pakistan is from regional teams which work with teams in Bangladesh, Nepal, Sri Lanka, Myanmar, Singapore, and China.”

    Ehsan Saya confirmed to Reuters that the 11 per cent reduction in the workforce of Daraz Group will also result in an equivalent cut in its workforce in Pakistan. The group did not provide further details regarding the specific number of employees affected and further details on the restructuring.

    In a letter, CEO Bjarke Mikkelsen stated that Daraz has been able to grow its active shopper base from three million in 2018 to over 15 million currently, with an average order growth of nearly 100 per cent until last year. The company reported having access to 500 million customers in 2021 and a workforce of 10,000 employees. In the past two years, Daraz has invested $100 million in Pakistan and Bangladesh.

  • Easiest way to sign up and sell products on Daraz

    Easiest way to sign up and sell products on Daraz

    Many small to large businesses are now listed on Daraz and are generating great earnings.

    There is no doubt that online enterprises will play a significant role in Pakistan’s future as the globe continues to move toward a digital economy.

    You can now experience what it’s like to work with the world’s top online commerce technology and logistics company, thanks to Daraz’s acquisition by the Alibaba Group, which makes it simple to grow your business from the comfort of your home.

    Surprisingly, joining Pakistan’s largest online marketplace is not that difficult.

    All small to medium-sized businesses can open stores on Daraz with dedicated one-on-one support, where sellers can get free business advice any time of day or night! Additionally, merchants will have free analytics tools at their disposal to aid in the optimization of their online business.

    On its official website, Daraz claims to have initiatives that reduce financial burdens by offering 0% commission. From May 1 through June 30, all newly registered and existing vendors are exempt from paying commission fees. Additionally, sellers can enjoy free pick-up and storage, promotional credits, and discounted packaging.

    Daraz offers express sign-ups for all new sellers, enabling you to launch your venture and begin selling on the platform in less than two days.

    How to sign-up

    Simply pick up your phone and text “Daraz” space “Name” to 7575 to get started, or you can also sign up as a vendor on the platform’s seller sign-up page.

    If you’re just getting started with your online business, Daraz also provides free training and instruction for online sellers through webinars offered by Daraz.

    According to its website, Daraz is the largest virtual marketplace in South Asia, with more than 20 million products listed in more than 100 categories on both its website and mobile application. The marketplace aims to empower and enable tens of thousands of sellers to interact with millions of customers in this cutting-edge technological era.

  • Pakistani startup Dastgyr raises $37 million in series A round

    Pakistani startup Dastgyr raises $37 million in series A round

    Dastgyr Technologies Pvt. has raised $37 million in Pakistan’s largest-ever Series A round. The company seeks to build an e-commerce platform for emerging economies comparable to Alibaba Group Holding Ltd.

    The funding was spearheaded by Veon Ltd.’s venture arm, which put up about 40 per cent of the money. Zinal Growth Fund, DEG, Khwarizmi Ventures, Oman Technology Fund, Cedar Mundi Ventures, Reflect Ventures, Century Oak Capital, Haitou Global, GoingVC, Astir Ventures, K3 Ventures, Chandaria Capital, SOSV, Edgebrook Partners, and EquiTie were among the others who contributed, according to Bloomberg.

    Veon’s evolution outside traditional telecom services continues with this round. In Pakistan, it has asked for a licence to operate as a digital bank.

    Pakistan’s economy is mostly centred on cash, but innovators are working to change that. Dastgyr is a one-stop platform that connects retailers like grocery stores with different suppliers including Nestle SA and Reckitt Benckiser Group Plc. Currently, most conventional retailers meet 100 vendors per week or physically peruse different markets to stock their shelves.

    Veon Ventures’ Chief Executive, Mohammad Khairil Abdullah, said, “As part of Veon’s transformation into a digital operator that delivers a growing range of services to our customers we are investing in leading digital companies like Dastgyr in the countries where we operate. These investments are the building blocks of the digital ecosystem that will enable us to deliver on our strategy”.

    “Pakistan’s start-up ecosystem is at a critical juncture and only startups focused on addressing key challenges and adopting localized solutions will survive and thrive,” added Aamir Ibrahim, CEO of Jazz.

    “This investment highlights VEON’s commitment to scaling up Pakistan’s digital economy and provides Dastgyr with a platform to build synergies with Jazz’s subscriber base of around 75 million and with JazzCash, further integrating the startup into Pakistan’s fintech ecosystem”.

    Zohaib Ali, a co-founder of Dastgyr, stated that the company is dedicated to “working persistently toward our ambition of developing an Alibaba for emerging countries worldwide.”

    Another co-founder, Muhammad Owais, stated that the company aspires to become a unicorn in the next years. He stated that the company is now growing into new business-to-business areas such as cement, steel, and other construction materials, as well as looking into the electronics, pharmaceutical, and other retail industries.

    Dastgyr, which has been in use for less than two years, is used by roughly 100,000 stores in five cities. It attempts to save money by connecting buyers and sellers through a digital platform instead of purchasing and storing everything in physical warehouses.

    Within this year, it plans to expand into 15 additional markets in Pakistan and expand internationally.