Rumors have swirled for two days that Starbucks Corp. (NASDAQ: SBUX) would link up with China’s tech giant Alibaba Group Holding Ltd. (NASDAQ: BABA) to deliver coffee across much of the world’s most populous nation. The deal is official.
The two companies announced:
Marking a significant milestone for the two companies, Starbucks and Alibaba [are] poised to enable a seamless Starbucks Experience through deepened partnership.
[in-text-ad]
Starbucks [will] collaborate across key businesses within the Alibaba ecosystem, including Ele.me, Hema, Tmall, Taobao and Alipay, to significantly elevate the Starbucks Experience for Chinese customers:
[The companied announced] plans to leverage Ele.me’s on-demand platform to pilot delivery services in Beijing and Shanghai in September 2018; delivery program to expand across 30 cities to more than 2,000 stores by end of 2018.
What the press release and management from the two companies did not say is whether they know there will be a surge in demand for hand-delivered coffee. If not, the announcement is nothing more than an announcement, and the project will burn out down the road.
Companies rarely post the results of these joint ventures, unless they are wildly successful. Don’t look for that announcement anytime soon. The partnership is nothing more than an experiment for now.
24/7 Wall St.Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.