China’s Alibaba to split into six units

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China’s e-commerce major Alibaba Group announced a major restructuring in which it will become a holding company with six distinct business groups.

According to media reports, each unit would have its own chief executive and board of directors to allow for faster decision-making. The restructuring was described by the company as the “most significant” organisational overhaul in its 24-year history. The units will be allowed to seek outside capital, implying that they may eventually go public. Only its China e-commerce division, Taobao Tmall Commerce Group, will be wholly owned by Alibaba. The announcement sparked a positive reaction in the stock market, with Alibaba’s US-listed shares rising more than 14 percent on Tuesday.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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China’s Alibaba to split into six units

China’s e-commerce major Alibaba Group announced a major restructuring in which it will become a holding company with six distinct business groups.

According to media reports, each unit would have its own chief executive and board of directors to allow for faster decision-making. The restructuring was described by the company as the “most significant” organisational overhaul in its 24-year history. The units will be allowed to seek outside capital, implying that they may eventually go public. Only its China e-commerce division, Taobao Tmall Commerce Group, will be wholly owned by Alibaba. The announcement sparked a positive reaction in the stock market, with Alibaba’s US-listed shares rising more than 14 percent on Tuesday.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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