World News | Alibaba Splitting into 6 Business Groups
Get latest articles and stories on World at LatestLY. Alibaba is separating the Chinese e-commerce company into six business groups as it looks to react faster to market changes and increase their value.
Beijing, Mar 28 (AP) Alibaba is separating the Chinese e-commerce company into six business groups as it looks to react faster to market changes and increase their value.
Alibaba Group Holding Ltd. said in a regulatory filing that it will be split into the Cloud Intelligence Group, Taobao Tmall Business Group, Local Services Group, Global Digital Business Group, Cainiao Smart Logistics and Digital Media and Entertainment Group.
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The company said that each group will be able to raise outside capital and possibly seek its own initial public offering, except for Taobao Tmall Business Group, which will stay wholly-owned by Alibaba Group. (AP)
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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)