The platform also delivers much higher conversions than other digital ads, according to a report from Mininglamp Technology.
The Chinese internet search giant has been under pressure from competitors like Meituan and Bytedance.
Alibaba will also lead a US$700 million investment in NetEase Cloud Music.
As online e-commerce growth slows, JD.com is following in the footsteps of Alibaba and Baidu to target the offline advertising market.
You know Weibo and WeChat...QQ and Baidu..perhaps Douyin and Pinduoduo. But do you recall the significance of BiliBili, Kuaishou, Momo, Zhihu and Paipai?
Alibaba, Baidu and Tencent have built multi-billion dollar businesses by putting the customer—not the advertiser—at the centre of their thinking, and Western platforms should take note.
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