Six is bigger than one. Simple arithmetic, but that’s also the market verdict for Alibaba’s plan to split itself into six units. The market may or may not have it right on the nitty-gritty numbers—but the political dividend could be just as important.
Shares of the Chinese e-commerce giant rose 14% in New York on Tuesday, adding $33 billion to its market value. Alibaba said Tuesday that it will restructure the company into six independently run companies—each with its own CEO and board. Those will include Chinese commerce, global e-commerce, cloud computing, local services, logistics and entertainment. The core Chinese e-commerce business will stay wholly owned by Alibaba but each of the other units could seek their own funding, and maybe eventually conduct initial public offerings.
Already a subscriber? Sign In
- TurboTax:
Save up to $15 with TurboTax coupon April 2023 - The Motley Fool:
Sign up to Stock Advisor for $79 for 1 year - H&R Block Tax:
15% Off DIY Online Tax Filing Services | H&R Block Coupon Code - Top Resume:
10% TopResume Discount Code for expert resume-writing services - eBay:
30% off eBay coupon - Groupon:
Groupon Promo Code - 30% Off
