As Alibaba's Stock Slides, Employee No. 52 Still Believes In Its "Tao"
Restructuring and leadership plans offer growth, says long-time insider and author Brian Wong
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Restructuring and leadership plans offer growth, says long-time insider and author Brian Wong
(Bloomberg) -- Alibaba Group Holding Ltd. will put artificial intelligence and user experience at the top of its priorities, as its new leadership seeks to reclaim customers and market share in a fiercely competitive arena.Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Investors SayTesla and China Risk Leaving Volkswagen on a Road to NowhereTech Giants Power Stock Gains as Tesla Jumps 10
The Hangzhou-based ecommerce leader will reinforce strategic investments in the areas of AI-driven tech businesses, internet platforms and its global commerce network, Wu said.
The tech giant is working with advisers on a potential fundraise by its Cloud Intelligence unit that could mop up about 10-20 billion yuan ($1.38-$2.75 billion), the report said, citing people with knowledge of the matter.
Alibaba Group Holding Ltd's cloud division is weighing raising funds via a private round ahead of the business' market debut in Hong Kong.