People stand in front of a sign of Alibaba Group during the World Artificial Intelligence Conference, following the coronavirus disease outbreak, in Shanghai, China, September 1, 2022. REUTERS/Aly Song, announced on Tuesday it will split into six business units, each with its own CEO and board of directors, and adopt a holding company management model, in the biggest revamp of its 24 year history.
Taobao Tmall Commerce Group will remain wholly owned by Alibaba Group after the restructuring, the company said, even as the other units will be free to seek fundraisings and listings. However, together with Alibaba's other overseas e-commerce platforms, they are some of the company's fastest-growing divisions.
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We are absolutely thrilled to read up on Alibaba's six new business units, it's not like we have anything else to do in this world.
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