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.The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
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.