Alibaba reorganises into six groups

Hangzhou, 28th March: The Alibaba Group, China’s largest e-commerce company, has announced that it will reorganise its business into six groups – a move designed to “unlock shareholder value and foster market competitiveness” according to the management. It is also likely aimed to please the authorities in Beijing who have been eyeing the power of Chinese tech giants in recent years.

The six business groups will be: Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics, Global Digital Commerce Group, and Digital Media and Entertainment Group. According to Alibaba, each business group will retain the flexibility to raise outside capital and pursue an initial public offering (IPO).