Alibaba's Amended IPO FIling Shows Higher Costs to Attract Mobile Shoppers (AOL) (AMZN) (YHOO)
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Yahoo! (Nasdaq: YHOO), AOL (NYSE: AOL), Google (Nasdaq: GOOG), and other Internet companies are seeing some pressure Monday after Alibaba submitted an amended IPO filing with the U.S. SEC.
Alibaba said Tmall transaction volume rose 90 percent in Q1, while Taobao's volume increased 32 percent. Taobao, a marketplace, saw about $177 billion worth of transactions in 2013, while Tmall have about $70 billion. Those numbers compare with about $100 billion of transactions for Amazon.com (Nasdaq: AMZN).
Along with revenue and earnings numbers, Alibaba's gross margin fell from 51.3 percent down to 45.3 percent. The company said it spent more on marketing to attract smartphone users to its shopping sites. About 27.4 percent of transactions on the company's shopping sites came from mobile users in Q1, from 10.7 percent in the same period last year.
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