Commerce Group; the Global Digital Commerce Group; the Cloud Intelligence Group; the Local Services Group; Cainiao Smart Logistics and the Digital Media and Entertainment Group.
“This transformation will empower all our businesses to become more agile, enhance decision-making and enable faster responses to market changes,” Zhang told employees. It’s the biggest corporate update in Alibaba’s 24-year history and comes just as the company’s founder,Alibaba was founded with 18 people in Ma’s apartment in 1999. He was the big personality behind the company’s outsized growth, but
and a year later gave a speech that was critical of financial regulators and ultimately cost him what would have been a record breaking $37 billion IPO for the fintech giant Ant.Alibaba went public in New York in 2014 and has proved to be a potent force — a super app that combines services similar to Amazon, Netflix, UPS and more — but with size comes complexity, and Wall Street investors seemed keen to get a closer look at the company’s individual parts.
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