Alibaba to Split Into Six Groups and Explore IPOs in a Departure From Jack Ma Era
Alibaba Group Holding Ltd. is shaking up its management ranks, putting more emphasis on technology and less on e-commerce as it seeks to expand beyond its core business.
Alibaba Group Holding Ltd., the Chinese ecommerce giant, announced plans to separate into six independent companies. These companies could then seek their own IPOs. This would effectively destroy a business empire that Jack Ma had built up over two decades.
Reappearance in China
Restructuring of China's biggest private sector company, valued once at over $800 billion, but now only worth a quarter, follows Chinese authorities' recent signals that they are winding down the company.
A new wave of regulatory restrictions
Reining in the powerful tech sector of the country