Alibaba Announces Significant Reorganization: To Split Into 6 Units and Explore IPOs, Shares Rise 14% in U.S.

Alibaba, the Chinese e-commerce giant, has announced its most significant reorganization in its history, which includes splitting the company into six business groups, each with its own CEO and board of directors. The move comes after a difficult period for Alibaba, with slowing economic growth and tougher regulation from Beijing causing billions to be wiped off its share price.

The six business groups will be Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics, Global Digital Commerce Group, and Digital Media and Entertainment Group. Each unit can pursue independent fundraising and a public listing when they are ready, except for Taobao Tmall Commerce Group, which will remain wholly-owned by Alibaba.

According to Alibaba, the reorganization is designed to unlock shareholder value and foster market competitiveness. The company hopes that the move will reinvigorate its growth, as it has struggled with growth over the past few quarters. The business groups will revolve around Alibaba’s strategic priorities, including cloud and artificial intelligence activities, online shopping platforms, food delivery services, logistics services, international e-commerce businesses, and streaming and movie businesses.

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Alibaba CEO Daniel Zhang will head the Cloud Intelligence Group, while Yu Yongfu will be CEO of the Local Services Group, Wan Lin will continue as CEO of the Cainiao Smart Logistics, Jiang Fan will serve as CEO of the Global Digital Commerce Group, and Fan Luyuan will be CEO of the Digital Media and Entertainment Group.

Alibaba’s shares surged more than 14% in the U.S. following the announcement of the reorganization, showing that investors are confident that the move will help the company overcome its recent challenges. The Chinese government’s crackdown on private technology businesses has caused Alibaba to face increased scrutiny on its practices, resulting in a $2.6 billion fine as part of an antitrust probe. In addition, Alibaba’s fintech affiliate Ant Group was forced by regulators to cancel its mega public listing in November 2020.

Alibaba’s market value has fallen by around $600 billion since its share price peak in October 2020. The company’s decision to split into six business groups and explore IPOs shows its determination to stay agile and competitive in a rapidly changing business environment. Alibaba’s transformation will empower all its businesses to become more agile, enhance decision-making, and enable faster responses to market changes.

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