BookBub, American Eagle Outfitters, Alibaba. These are three companies that are showing that expansion is the only way to survive in today’s competitive business world. This week in the news, we highlight all three as they make aggressive moves to reach global markets.
E-book Service BookBub Expands to India
BookBub, a company that provides information about deals on e-books to millions of readers, officially launched in India earlier this month. The company has recently been named the “Hottest Startup” by the New England Venture Capital Association and received $7 million in funding. “The funding will help us expand our products and services to make it easier for readers to discover great books, and to help authors and publishers reach avid readers,” said BookBub’s President Josh Schanker as quoted by BetaBoston. The company offers a list of e-books which are on offer at free or discounted rates for a limited time. It currently has over 5 million members and it also offers localized services for members in the United Kingdom, and Canada. (BetaBoston)
American Eagle to Open Stories in South Korea, Singapore, & Greece
American Eagle Outfitters continues its global expansion by signing license agreements to open stores in South Korea, Singapore and Greece. The US fashion brand will work together with SK Networks Co. in South Korea, Trendz 360 in Singapore and Notos Com Holdings in Greece to sell its products in those countries starting in the second half of this year. The company reported that its revenue increased by 8% and sales grew by 7% for the first quarter of its fiscal year, compared to the previous year. With the new agreements, America Eagle will have stores in 28 countries. (Pittsburgh Post-Gazette)
Alibaba Makes Push into Global Cloud Market
Alibaba’s CEO Daniel Zhang told his employees last week that the company must expand globally in order to survive. And it looks like the company is putting its money where its mouth is. Alibaba is reportedly getting ready to open several data centers across Europe, Japan, Southeast Asia and the Middle East to expand its cloud services. The company already has a facility in Silicon Valley. “Wherever we go, we will be seeking local partners such as experienced companies in the PaaS and SaaS areas, as well as developers dedicated to open source projects, to work with us,” said Simon Hu, president of Aliyun, Alibaba’s cloud computing arm, as quoted by Computer Business Review. “‘Opening up’ and ‘win-win’ are our principles that will help us develop localized strategies to cater to local markets.” (Computer Business Review)
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