Alibaba Group Holdings, Chinese technology, is undergoing a major business overhaul. This grand plan regarding a business overhaul was carried out by dividing its business into six separate units.
This massive restructuring comes after Jack Ma returned to China and made a rare public performance, and because China has signaled the regulatory pressure on the internet industry is coming to an end.
Moreover, Alibaba will again observe the public fundraising or listing for most of these units. This restructuring will be the biggest step taken in the company’s 24 years of operation.
At the opening of trading on March 29, 2023, Alibaba’s stocks in Hong Kong soared 15 percent, while on Wall Street, Alibaba’s stocks also increased 14.26%.
For more, the six business units of Alibaba such as:
- Cloud Intelligence Group: cloud business and enterprise artificial intelligence
- Taobao Tmall Commerce Group: Taobao and Tmall online shopping platform
- Local Services Group: Alibaba Ele.me food delivery service and its mapping
- Cainiao Smart Logistics: Alibaba’s logistics services
- Global Digital Commerce Group: includes Alibaba’s international e-commerce businesses such as AliExpress and Lazada
- Digital Media and Entertainment Group: Alibaba’s streaming and film business