Alibaba Integrates E-Commerce Platforms into a Single Business Unit

Reuters11-21

SHANGHAI, Nov 21 (Reuters) - Alibaba Group will integrate all of its e-commerce platforms into a single business unit to be called the Alibaba E-commerce Business Group, it said in a stock exchange filing on Thursday.

It marks the first time the group's domestic Chinese e-commerce group and its international e-commerce platforms will be integrated.

Alibaba shares turned positive in premarket trading.

The new group brings together the Taobao and Tmall Group and the Alibaba International Digital Commerce (AIDC) Group - which operated platforms including cross-border player AliExpress and wholesale B2B site Alibaba.com, in addition to second-hand platform Xianyu.

AIDC chief Jiang Fan, a former head of Tmall who was demoted in 2020 following an online scandal, has been tapped to lead the new unit. He will report to Alibaba Group CEO Eddie Wu.

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Comments

  • hphoa
    11-22
    hphoa
    What happened to this stock...crazy stock
  • balim
    11-22
    balim
    Most useless stock to invest. Just ignore! There are many many other excellent stocks to invest in. 
  • Song Di
    11-22
    Song Di
    Is Alibaba the target of short sellers? Dropped almost everyday for past 2 weeks
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