Alibaba's stock rose due to plans to increase vendor service fees

From Nasdaq: 2024-07-29 16:00:58

Shares of Alibaba Group Holding Ltd. (BABA) surged after reports of plans to increase vendor service fees, potentially charging a 0.6% basic software fee on confirmed transactions for Tmall and Taobao platforms. This move aims to boost core revenue as Alibaba earns majority of its revenue through customer management fees. Additionally, the company might waive the new fee for small merchants.



Read more at Nasdaq: Alibaba Stock Rises On Report Of Hike In Vendor Service Fee