The latest figures from China were anything but exciting. Tencent even reported a drop in sales compared to the same period last year for the first time. Alibaba shares are trading well below $100 again. After all: The e-commerce giant has landed a new, exciting cooperation.

Alibaba’s delivery platform Ele.me will be accessible via Douyin in the future. Douyin has 600 million daily active users, is owned by ByteDance, and is a Chinese short video platform that has exploded in the West under the name TikTok.