CEO of $B220-billion empire says each new firm could eventually pursue an IPO
Alibaba Group Holding Ltd has announced plans to split its $220-billion business into six main units encompassing e-commerce, media and the cloud, each of which will explore fundraising or an initial public offering (IPO) when the time is right.
Daniel Zhang, croup chief executive officer of the Chinse e-commerce giant, will head the cloud intelligence division, reflecting the growing role that AI will play in the group’s portfolio in the long run.
Former international retail chief Jiang Fan will head up the digital business unit, while longtime executive Trudy Dai will oversee the main Taobao Tmall…
