The Chinese tech company announced it will break itself into six pieces. The move gave Alibaba's shares a shot in the arm. Read More...
Reuters
FACTBOX-How Alibaba’s six new business units stack up
Chinese e-commerce giant Alibaba Group announced on Tuesday it will split into six business units, each with its own CEO and board of directors, and adopt a holding company management model, in the biggest revamp of its 24 year history. Alibaba has long relied on e-commerce as its core business, with smaller divisions in sectors such as cloud computing and entertainment. The company’s CEO Daniel Zhang said the business units will each be free to pursue funding and IPOs independently, which points to a possible carving out in the future.
