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Business News›News›International›Business›Alibaba breaks up investment team, sends staff to units
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Alibaba breaks up investment team, sends staff to units
Bloomberg
Synopsis
The e-commerce giant is placing about half of 70-some people from its investing arm with the newly formed arms focusing on businesses from cloud services to logistics, the people said, requesting not to be named because the matter is private.
APAlibaba Group Holding Ltd. plans to dispatch about half of its investment team to six different business units that will be created after the company's breakup, according to people familiar with the matter.
The e-commerce giant is placing about half of 70-some people from its investing arm with the newly formed arms focusing on businesses from cloud services to logistics, the people said, requesting not to be named because the matter is private.
Those units, with the exception of the core Chinese e-commerce operation, could potentially be spun off and listed in future. The decision was made so that the separate arms can continue to make deals quickly in a fast-changing environment, the people added.
A representative for the company didn't immediately respond to requests for comment.
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