Alibaba approves cloud computing unit spin-off, prepares for grocery and logistics arms to go public
1 year, 7 months ago

Alibaba approves cloud computing unit spin-off, prepares for grocery and logistics arms to go public

Associated Press  

HONG KONG — Alibaba plans to spin-off of its cloud computing business and said 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. 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 “optimize 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 process and Cainiao will explore an IPO in the next 12 to 18 months, he said.

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History of this topic

Alibaba sees its Jan-March revenue up 7%
7 months, 1 week ago

Alibaba sees its Jan-March revenue up 7%

China Daily  

The headquarters of e-commerce giant Alibaba Group in Hangzhou, East China's Zhejiang province. Chinese tech heavyweight Alibaba Group Holding Ltd reported on Tuesday night that its revenue stood at 221.87 billion yuan during the January-March period, an increase of 7 percent year-on-year, while its net income reached 3.27 billion yuan, down 86 percent year-on-year. For the quarter ending on March …

Alibaba’s profit in Q4 tumbles due to equity investments, New York-listed stock plunges
7 months, 1 week ago

Alibaba’s profit in Q4 tumbles due to equity investments, New York-listed stock plunges

Associated Press  

HONG KONG — Chinese e-commerce company Alibaba Group Holding on Tuesday posted a greater-than-expected decline in profit for the fourth quarter due to its equity investments, sending its stock price plunging in New York. Its net income for the quarter ended March was 3.3 billion yuan, down 86% compared to the same time last year and missing analyst estimates. Revenue …

Alibaba price cuts heat up cloud space
9 months, 3 weeks ago

Alibaba price cuts heat up cloud space

China Daily  

A view of the booth of Alibaba Cloud during an expo in Shanghai. Experts said Alibaba Cloud's price cuts underscore its commitment to fueling the adoption of AI technologies and supporting the quickly evolving landscape. This round of significant price cuts by Alibaba Cloud is a proactive response to the changing market demands and competitive dynamics in the Chinese market, …

Alibaba Cloud announces a 55% price reduction
9 months, 3 weeks ago

Alibaba Cloud announces a 55% price reduction

China Daily  

Liu Weiguang, president of public cloud business at Alibaba Cloud Intelligence. Alibaba Cloud, the cloud computing unit of Chinese heavyweight Alibaba Group Holding Ltd, announced on Thursday a price reduction of up to 55 percent on more than 100 core cloud products, marking the biggest price cut in the company's history. This move aims to make public cloud services more …

Alibaba's U-turn on cloud unit spin-off lops $20 bln off its market value
1 year, 1 month ago

Alibaba's U-turn on cloud unit spin-off lops $20 bln off its market value

The Hindu  

Alibaba Group's Hong Kong shares slumped 10% on Friday after it scrapped plans to spin off its cloud business, citing uncertainties fuelled by U.S. curbs on exports to China of semiconductors used in artificial intelligence applications. Alibaba's concerns over the U.S. export curbs announced by Washington in October come on the heels of similar worries raised this week by Chinese …

Alibaba shares plunge as much as 10% after canceling plans to spin off cloud unit
1 year, 1 month ago

Alibaba shares plunge as much as 10% after canceling plans to spin off cloud unit

Associated Press  

HONG KONG — Shares of Chinese e-commerce firm Alibaba Group Holding plunged as much as 10% in New York after it said Thursday that plans to spin off its cloud business were scrapped, citing uncertainties due to U.S. chip restrictions. Alibaba Chairman Joe Tsai said Thursday during an earnings call that a spinoff of its cloud unit “may not achieve …

Alibaba Scraps Cloud Unit Spinoff, Citing Washington’s Chip Curbs
1 year, 1 month ago

Alibaba Scraps Cloud Unit Spinoff, Citing Washington’s Chip Curbs

Live Mint  

SINGAPORE—Washington’s latest curbs on the export of high-performance chips to China are beginning to bite. The restrictions “may materially and adversely affect" the cloud business’s ability to offer products and services and to perform under existing contracts, Alibaba said, adding that it would focus on the division’s growth. Tencent had stockpiled chips including Nvidia’s H800—developed especially for the Chinese market …

Alibaba will spin off its logistics arm Cainiao in an IPO in Hong Kong
1 year, 2 months ago

Alibaba will spin off its logistics arm Cainiao in an IPO in Hong Kong

Associated Press  

HONG KONG — Chinese e-commerce company Alibaba said Tuesday that it would spin off its logistics arm, Cainiao Smart Logistics Network, in an initial public offering in Hong Kong, making it the first business unit to go public following a major restructuring. The company currently owns nearly a 70% stake in Cainiao, Alibaba’s main delivery arm that handles logistics and …

Alibaba CEO Daniel Zhang steps down just two months after taking charge of cloud business
1 year, 3 months ago

Alibaba CEO Daniel Zhang steps down just two months after taking charge of cloud business

Firstpost  

Chinese tech giant Alibaba Group announced on Sunday that Daniel Zhang would step down from his role in the company’s cloud business. Zhang took charge of the company just two months ago, when he took over from Jack Ma In an unexpected move, China’s Alibaba Group announced on Sunday that Daniel Zhang would step down from his role in the …

Former CEO of China’s Alibaba quits cloud business in surprise move during its leadership reshuffle
1 year, 3 months ago

Former CEO of China’s Alibaba quits cloud business in surprise move during its leadership reshuffle

Associated Press  

HONG KONG — The former CEO of Alibaba, Daniel Zhang, resigned as head of its cloud computing unit Monday in a surprise move as the Chinese e-commerce empire wraps up a leadership reshuffle. In a filing to the Hong Kong stock exchange, Alibaba said that Eddie Wu, its new CEO, will also head its cloud unit. Wu and Alibaba’s new …

Former CEO of China's Alibaba quits cloud business in surprise move during its leadership reshuffle
1 year, 3 months ago

Former CEO of China's Alibaba quits cloud business in surprise move during its leadership reshuffle

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The former CEO of Alibaba, …

Chinese e-commerce giant Alibaba announces new CEO and Chairman in major reshuffle
1 year, 6 months ago

Chinese e-commerce giant Alibaba announces new CEO and Chairman in major reshuffle

The Hindu  

China's Alibaba Group has announced a major management reshuffle aimed at spurring the e-commerce giant's growth at a time when the Chinese economy is slowing despite an end to COVID-19 pandemic restrictions a half-year ago. Alibaba's current Executive Vice Chairman, Joseph Tsai, is to succeed Mr. Zhang as Chairman of the Alibaba Group. Mr. Zhang became Alibaba Group's CEO in …

China e-commerce giant Alibaba outlines future strategy
1 year, 8 months ago

China e-commerce giant Alibaba outlines future strategy

Associated Press  

HONG KONG — Alibaba plans to spin off some of its sprawling e-commerce and finance empire as independent businesses to make them more flexible and maximize their value, its top executives said Thursday, as the company emerges from regulatory crackdowns that rattled Chinese tech industries. Alibaba, whose headquarters is in the eastern city of Hangzhou, will be “in the nature …

Alibaba to decide on control over six business units after IPOs
1 year, 8 months ago

Alibaba to decide on control over six business units after IPOs

Live Mint  

Alibaba Group's breakup into separate companies will allow its business units to become more agile and eventually list on their own, the tech conglomerate's chief executive Daniel Zhang said on Thursday. His comments came two days after Alibaba announced its largest restructuring in the company's history, which will see it change into a holding company structure with six business units, …

For Alibaba, Six Is Bigger Than One—And a Smaller Target
1 year, 8 months ago

For Alibaba, Six Is Bigger Than One—And a Smaller Target

Live Mint  

Six is bigger than one. 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. Analysts from Goldman Sachs and Morgan Stanley have both said the market is currently valuing Alibaba’s businesses outside its core Chinese e-commerce segment at zero. Alibaba’s …

Alibaba to split into six units, explore IPOs
1 year, 8 months ago

Alibaba to split into six units, explore IPOs

The Hindu  

Alibaba Group Holding Ltd is planning to split its business into six main units covering e-commerce, media and the cloud, the company said on March 28, adding that each of the units will explore fundraising or initial public offerings. The six units will include Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital …

Alibaba to split empire into 6 units as co-founder Jack Ma returns to China
1 year, 8 months ago

Alibaba to split empire into 6 units as co-founder Jack Ma returns to China

Hindustan Times  

Alibaba Group plans to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as Beijing vows to ease a sweeping regulatory crackdown and support its private enterprises. The Chinese e-commerce conglomerate said that the biggest restructuring in its 24 year history would see it split into six units …

Alibaba plans to split its business into six units, explore IPOs
1 year, 8 months ago

Alibaba plans to split its business into six units, explore IPOs

Live Mint  

Alibaba Group Holding Ltd on Tuesday said that it is planning to split its business into six main units covering e-commerce, media and the cloud,, adding that each of the units will explore fundraising or initial public offerings, reported Reuters. The six units will include Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global …

U.S. examining Alibaba's cloud unit for national security risks
2 years, 11 months ago

U.S. examining Alibaba's cloud unit for national security risks

The Hindu  

The Biden administration is reviewing e-commerce giant Alibaba's cloud business to determine whether it poses a risk to U.S. national security, according to three people briefed on the matter, as the government ramps up scrutiny of Chinese technology companies' dealings with U.S. firms. Alibaba's U.S. cloud business is small, with annual revenue of less than an estimated $50 million, according …

Alibaba's Cloud Business Being Reviewed in US for National Security Risks
2 years, 11 months ago

Alibaba's Cloud Business Being Reviewed in US for National Security Risks

News 18  

The Biden administration is reviewing e-commerce giant Alibaba’s cloud business to determine whether it poses a risk to US national security, according to three people briefed on the matter, as the government ramps up scrutiny of Chinese technology companies’ dealings with U.S. firms. Alibaba’s US cloud business is small, with annual revenue of less than an estimated $50 million, according …

Alibaba’s sales surge but cloud growth slows
3 years, 7 months ago

Alibaba’s sales surge but cloud growth slows

CNN  

New York CNN Business — Alibaba has reported earnings for the first time since China imposed a record fine on the tech giant — and the numbers were not as awful as some feared. The fine was reached after antitrust regulators concluded that the online shopping giant had been behaving like a monopoly, and was equivalent to 4% of Alibaba’s …

Alibaba beats estimates as pandemic fuels online, cloud computing demand
4 years, 4 months ago

Alibaba beats estimates as pandemic fuels online, cloud computing demand

Live Mint  

China's Alibaba Group Holding Ltd beat quarterly revenue and profit estimates on Thursday, as its core commerce and cloud computing businesses continued to grow following China's emergence from the coronavirus lockdown. The company's stock has soared 23% this year as investors globally poured money into technology businesses seen as "stay-at-home" winners from the pandemic, and Alibaba said it had bounced …

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