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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Alibaba splits into six entities, considers IPOs

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Daniel Zhang Photo Credit: Benoit Tessier Daniel Zhang Photo Credit: Benoit Tessier
Daniel Zhang Photo Credit: Benoit Tessier Daniel Zhang Photo Credit: Benoit Tessier

On Tuesday, Alibaba Group Holding Ltd (9988. HK) announced plans to restructure its business into six primary groups: e-commerce, media, and the cloud. Each unit would investigate funding or initial public offerings.

Alibaba’s U.S. shares rose 3.5% premarket.

The six units will be Cloud Intelligence, Taobao Tmall Commerce, Local Services, Cainiao Smart Logistics, Global Digital Commerce, and Digital Media and Entertainment.

CEOs and boards will run each of the six.

Alibaba Group will follow a holding company management style with Daniel Zhang as chairman and CEO, the business stated.

Zhang will also lead the Cloud Intelligence Group.

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