Alibaba's Partnership With Lolli App For Crypto Reward Is Deemed False, Is That Really The Case?

Lolli, a crypto-oriented app built for shopping, has suffered a blow after Alibaba denied any partnership with the service provider. The firm’s Singles Day adverts for the U.S market notably stood out as they were offering Bitcoin rewards to Alibaba clients.

However, it turns that Lolli does not have any official agreement with Alibaba; officials from the Chinese giant recently clarified this. According to a spokesman from Alibaba, Lolli’s relationship is with a subcontractor who holds a contract with one of Alibaba’s business partner;

“One of Alibaba.com’s contractors hired a subcontractor who brokered an affiliate marketing program with Lolli. This was done without the knowledge of Alibaba.com,”

He added that Alibaba was going to terminate their existing agreement with the subcontractor. Lolli should therefore cease to make promotions or any business that adds to Alibaba’s website traffic. Furthermore, Lolli’s partnership declaration with Alibaba Group was out of line.

Lolli’s Response

The shopping services crypto rewarder has come out to defend its reputation noting that they have to be integrated to a particular website for them to send traffic. Aubrey Strobel, the Head of Communication at Lolli, said that Alibaba trialed their reward initiative for a day but later opted out after the public started raising questions.

Strobel further noted that how this news was reported in FinTech circles may have caused a miscommunication. Some news went as far as saying Alibaba is now accepting Bitcoin. He however emphasized that Lolli is open and to form an official relationship with the Chinese online retail giant;

“It seems as though there was a miscommunication on Alibaba’s end and while that’s unfortunate, we look forward to the possibility of working with Alibaba.com again in the future.”

This has been a norm in the crypto and blockchain arena; most firms have hyped imaginary partnerships to promote their products. Lolli has viewed the contractual relationship as an opportunity to build a relationship while Alibaba had no knowledge of any obligations its 3rd party affiliates had entered. The Alibaba Group spokesman affirmed their position and clarified that the company does not have any relationship with a Bitcoin affiliated firm.

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Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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