Alibaba was the subject of financial news headlines as Daniel Zhang, its CEO, announced a major restructuring of the company. The decision surprised market analysts, just a day after Alibaba’s founder Jack Ma made his first public appearance on Chinese soil in the last 12 months.
Our blog will share with you some details regarding Alibaba’s reorganisation plans and what these could mean for investors.
What is Alibaba?
Alibaba Group Holding Ltd., a Chinese multinational tech company, uses its expertise and e-commerce skills to connect clients and businesses all over the world. Jack Ma, an English teacher, was the founder of Alibaba, which was established in 1999 as a B2B e-commerce marketplace.
But many things have changed in the past few years with Alibaba expanding to consumer/to-consumer and electronic payment services, online shopping engines, cloud computing, and other related areas. According to the Alibaba website, “our vision for fiscal year 2036 is to serve 2 billion global consumers, enable 10 million businesses to be profitable and create 100 million jobs.”
Alibaba overhaul: What’s the plan?
On March 28th, Alibaba’s management announced its decision to split the company into 6 business…