Approves breakup after missing revenue estimate
Chinese e-commerce giant Alibaba is aiming to spin off its cloud business within 12 months.
Full independence will allow the Cloud Intelligence unit to"further sharpen its business strategy" and optimize its operations and organization, he added. The restructuring will see Alibaba Group morph into a holding company, focused on capital management, while each of the business groups will operate with a high degree of independence led by their own CEO.
Industry talk at the time was that this was to secure greater market share ready for a potential public offering, but as welast year, Alibaba believes it has reached a"market saturation" point in China, and is having to chase new customers in"sunrise" industries.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Alibaba kicks off unit IPOs as revenue growth weakens\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Lire la suite »
Ampere courts cloud providers with 192-core chipsAmpere heads off Intel, AMD's cloud-optimized CPUs with a 192-core chip
Lire la suite »
Lego 2K Drive may delete your progress if you play offline then reconnect | VGCLego 2K Drive can potentially remove players’ progress if they play the game offline then reconnect to the 2K servers
Lire la suite »
Plans for more than 130 homes to replace demolished schoolThe site of the former Rosebrook Primary School off Townroe Drive, Mansfield, could be turned into up to 134 houses if new plans are approved by Mansfield District Council
Lire la suite »
Mum of Rangers fan who died at 19 plans special tributeAn old firm charity match is set to take place this weekend in memory of a Glasgow teen who lost her life in 2020.
Lire la suite »
Derby £2 bus man plans two-and-a-half-day journey to Poland'Bus adventurer' Andrew Cowell says he plans to use £2 buses and a coach to reach Krakow.
Lire la suite »