Chinese tech and e-commerce group Alibaba plans to split its operations into six main divisions: e-commerce, media, and the cloud.
Each component could have its stock exchange listing in the long term. For example, the activities of Alibaba, listed in New York and Hong Kong, have a total value of USD 220 billion.
“Each business group and company can independently pursue their fundraising and listing when they are ready,” Alibaba CEO Daniel Zhang said in a statement. In addition, Zhang will head up the cloud intelligence division, underlining the importance of using artificial intelligence (AI) in the company’s long-term operations.
The former head of Alibaba’s international retail operations, Jiang Fan, will lead the digital division. Trudy Dai, one of the co-founders of Alibaba, will become the head of the main online shopping division Taobao Tmall.
The other divisions include local services such as food delivery, the logistics group Cainiao and digital media and entertainment.