Page 3 - Alibaba

Alibaba CEO Eddie Wu: Little-known coder to continue Jack Ma's legacy

The appointment of Eddie Wu Yongming to replace the affable Daniel Zhang surprised insiders, even though the 48-year-old computer scientist has been with Ma from Alibaba's humblest beginnings

Daniel Zhang to step down as Alibaba CEO, Eddie Wu Yongming to succeed him

Daniel Zhang to focus on Alibaba Cloud Intelligence Group as chairman and CEO; change will take effect September 10

Alibaba names Joseph Tsai chairman, Eddie Wu CEO in a surprise shake-up

Zhang's shock departure comes after Alibaba announced a six-way restructuring to try and juice growth and create a family of standalone leaders in businesses from cloud computing and logistics

Alibaba refutes layoff rumours, says will hire 15,000 people this year

In a post on the firm's official Weibo account, Alibaba said that among the 15,000, more than 3,000 people would be newly-graduated students

Alibaba to make significant job cuts, around 7% of workers, amid IPO plans

The company is offering severance packages to the impacted employees and also plans to transfer some workers to other parts of its business verticals

Alibaba plans cloud computing unit spin-off; logistics arms to go public

Alibaba plans to spin-off of its cloud computing business and said on Thursday that its logistics and grocery units will explore initial public offerings as the Chinese e-commerce company kickstarts a restructuring of its operations in hopes of spurring growth. The company in March announced plans to reshape itself into six business divisions with plans to allow all but its core e-commerce business to raise external capital and go public. In an earnings call Thursday, Alibaba CEO Daniel Zhang said that the Alibaba plans to fully spin off its cloud computing unit and complete a public listing in the next 12 months, allowing it to optimise operations, Zhang said. Alibaba's board of directors approved the full spin-off of the cloud computing unit via a stock dividend distribution to shareholders, the company said. Zhang also said that Freshippo, its groceries arm, as well as logistics arm Cainiao, are ready to go public. Alibaba's board has approved plans to begin Freshippo's IPO pro

Alibaba Group misses revenue estimates, approves cloud unit spinoff

Alibaba on Thursday approved a full spinoff of the Cloud Intelligence Group via a stock dividend distribution to shareholders

EU proposes reforming customs to target online sellers like Amazon, Alibaba

The European Commission's proposal would introduce data-driven systems, streamlining reporting requirements for traders by reducing the time needed to complete import procedures

Alibaba slashes Cloud prices by 50% to drive adoption before IPO

The price cuts are one way for the company to attract more customers, said Zhang Yi, who tracks China's cloud computing sector at research firm Canalys

Softbank moves to slash Alibaba stake fueling a $13 billion slump

The contracts give SoftBank the option to buy the shares back, but the group has settled previous deals by handing over the stock

Alibaba invites users to test its in-house ChatGPT-like AI Chatbot

Alibaba's cloud computing unit is offering invitation codes to some corporate customers so they can try out the large language model called Tongyi Qianwen

Alibaba likely to yield control of some business units in rejig: Report

Top executives of Chinese e-commerce and financial giant Alibaba said Thursday that the company is moving toward giving up control of some of its business units in a transition toward becoming a capital operator to optimise the value of its sprawling businesses. Alibaba CEO Daniel Zhang outlined details of a plan announced earlier this week to split Alibaba into six main groups as a prelude toward stock listings of some of its companies. The restructuring marks a new stage in Alibaba's growth after a series of setbacks as regulators cracked down on it and other tech companies. Alibaba, whose headquarters is in the eastern city of Hangzhou, will be in the nature of a holding company that is the controlling shareholder of the business group companies, Zhang said in a conference call. Alibaba's CFO, Toby Xu, said the company would continue to evaluate the strategic importance of group companies after they go public and decide whether or not to retain control. He declined to say when t

Alibaba splits into six units, plans new IPOs in historic overhaul

The move frees up the Chinese company's main divisions from e-commerce and media to the cloud to operate with far more autonomy, laying the foundation for future spinoffs and market debuts

Alibaba's Jack Ma returns as China tries to allay private sector fears

During his visit, Ma discussed topics such as artificial intelligence-powered chatbot ChatGPT and also said he hoped to return to teaching one day, the Yungu School said on its official WeChat account

Alibaba's founder Jack Ma seen in China after long absence: Report

The Alibaba-owned newspaper said he had made a short stopover in Hong Kong, where he met friends and also briefly visited Art Basel, an international art fair

Alibaba Group's profit surges 69% on low costs, online shopping in pandemic

Its shares climbed more than 6% in pre-market New York trading. The online retailer reported net income of 46.8 billion yuan, easily surpassing the roughly 35 billion yuan average estimates

Alibaba exits Paytm, sells remaining 3.3% stake for Rs 1,378 crore

Over 22.8 million shares worth Rs 3,000 crore change hands in 15 blocks

US to China, tech giants hit the tracks in race for AI one-upmanship

ChatGPT Effect: Microsoft, Google, Baidu, Alibaba ready their own chatbot services

AI integration may soon fundamentally alter how we search on the internet

AI has found its way into a number of industries, from transportation to health. Now it is being integrated with search engines

Chinese government entities to take golden shares in Alibaba, Tencent

The discussions are emerging as Beijing prepares to loosen its grip on the sector and move past a bruising crackdown that's enveloped most every internet sphere for well over a year