News Formal

Alibaba will split into six units, reshaping Jack Ma's business empire | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

United States News News

United States United States Latest News,United States United States Headlines

E-commerce giant Alibaba will split into six units, a move that comes as Beijing sends signals its crackdown on the tech sector may be nearing an end

Each new business unit will be overseen by its own chief executive and board of directors, the company said. Five of the new business groups “will also have the flexibility to raise outside capital and potentially to seek its own IPO,” according to a company statement on Tuesday.

Ant Group won a key approval for capital expansion of its consumer finance unit and China has broadly adopted a more business-friendly posture. On Monday, Ma was seen meeting with students and teachers at the Alibaba-funded Yungu School in Hangzhou, where he visited and “discussed the future of education with the campus directors,” per post from the school on WeChat. Ma stepped down as CEO of Alibaba in 2013 and retired from his role as executive chairman in 2019.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

4 investigations on Trump by far left Democrats , run be far left Judges , not political persecution nah

Yesterday's news and we even tackled law around it but keep posting about them so they can grow The House Likes Alibaba and planning on using them too

shipinbot get_this_v

🤔

Check it out

Just call cable news CNN TRUMPNN :that’s all they cover now same withMSNBC Trump all the time

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alibaba to break up business into six units, seek IPOs | CNN BusinessAlibaba Group plans to split its business into six main units covering e-commerce to cloud in the biggest restructuring of its 24-year history. This a great move and will hopefully set an example for Amazon, Facebook, Microsoft, Google and co. It is time that these companies break themselves or face monopolistic oversight.
Source: cnni - 🏆 326. / 59 Read more »

Jack Ma makes rare public appearance in China | CNN BusinessJack Ma, the billionaire founder of Alibaba and once one of China’s most prominent entrepreneurs, has made a rare public appearance in the country. CNN💩💰🇨🇳
Source: cnni - 🏆 326. / 59 Read more »