Alibaba (BABA) will merge its domestic and international ecommerce operations into a single ecommerce unit amid steep competition at home and abroad, Nikkei Asia’s Cizzy Zhou reports. According to an internal letter seen by the publication, Alibaba CEO Eddie Wu says the new business division will be led by Jiang Fan, who will report directly to Wu. The merged division will include Taobao and Tmall, Alibaba International Digital Commerce, Idle Fish, the 1688 Marketplace, and others.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BABA:
- Alibaba (NYSE:BABA) Issues $2.65B in Bonds for First Time Since 2021
- Chinese tech groups expand AI teams in U.S., FT reports
- 3 Best Stocks to Buy Now, 11/20/2024, According to Top Analysts
- Amazon vs. Alphabet: Which Cloud Hyperscaler Offers Greater Value?
- Alibaba price target lowered to $130 from $137 at Barclays