e-commerce
Alibaba Group to invest $193.6 million in SMG’s China Business News
MUMBAI: Alibaba Group has signed a strategic agreement with Shanghai Media Group (SMG) to leverage both companies’ Internet technology and media resources in order to penetrate China’s financial information services industry.
As part of the strategic agreement, Alibaba Group will invest $193.6 million (RMB1.2 billion) into China Business News (CBN), a Chinese financial media company under SMG, to create a financial data and information services company that will help Chinese small and medium enterprises tap a rich mine of financial data.
By utilizing Alibaba Group’s big data and cloud computing capabilities, both companies will jointly develop a comprehensive financial data and information platform that will provide users with timely financial news and information in order to enhance their investment and financial decision-making capabilities.
The aim of this platform is to raise the bar on enterprise efficiency in China by leveling the information playing field. By giving a greater number of Chinese enterprises access to precious financial data that can be easily mined and analyzed for actionable investment and business decisions, this platform is expected to help these enterprises scale and expand their businesses.
Currently, Alipay and CBN are collaborating to provide users with stock quote information and CBN’s wealth management information product will also soon launch on Mobile Taobao. Alipay is part of Ant Financial Services Group, a related party of Alibaba Group. Alibaba Group and SMG will also work toward enhancing digital and traditional media convergence in the industry through the launch of innovative new media products for the market.
“The era of Data Technology is here and it will surpass the Information Technology era. The DT era is about transparency, sharing of information and enabling others. Alibaba is excited about the possibilities of the DT era and how it can bring value to society,” said Alibaba Group founder and executive chairman Jack Ma.
This strategic agreement with SMG is expected to help Alibaba Group develop DT-era products and services to enrich the lives of Chinese users, be it in academia, business or media sectors.
Through this tie-up, CBN is well-poised to expand its financial media information services and continue to innovate in China’s traditional financial media industry. CBN is China’s leading financial media group with a variety of media assets, such as television, radio, newspaper, magazine and news agencies.
e-commerce
Flipkart and Uber team up to let users earn Supercoins on rides
New partnership turns everyday commutes into rewarding journeys for millions of Indians.
MUMBAI: Flipkart and Uber have joined forces to give riders a little extra mileage this time, in the form of Supercoins. The two platforms have announced a collaboration that allows Flipkart users to earn 4 per cent of their Uber fare as Supercoins on every eligible ride, up to a maximum of 150 coins per trip, with no cap on total earnings. The coins are credited directly to the user’s Flipkart account and can be redeemed across the Flipkart ecosystem, including Flipkart Minutes, Cleartrip, and partner offerings.
New Uber users or those who haven’t used the app in the last 84 days can earn an additional 150 bonus Supercoins by completing their first ride within 28 days of linking accounts. Users who link their accounts between 15 and 30 April 2026 and complete their first ride within 28 days will receive another 50 bonus SuperCoins.
Flipkart vice president, payments and supercoins Gaurav Arora said, “Supercoins is evolving into a broader rewards layer across everyday use cases. Mobility is a natural extension, and this partnership with Uber allows us to integrate more seamlessly into how customers transact daily.”
Uber director of business development at India and South Asia Arnab Kumar added, “This integration allows us to extend additional benefits to riders in a simple and intuitive way, while building on how users engage with everyday services across platforms.”
The partnership brings together two high-frequency consumer platforms and reflects a growing trend of integrating loyalty rewards into daily mobility and lifestyle experiences.
In a country where commutes are a daily reality, Flipkart and Uber have found a smart way to make every ride a little more rewarding. With Supercoins now earned on the go, users can turn their everyday journeys into opportunities to save and enjoy more across the Flipkart ecosystem. The partnership is a win-win that puts loyalty on the fast lane.
