$197 Billion Alibaba Gains China Anti-Trust Authority Approval for Effectiveness on Reform for Anti-Competition & Monopolistic Practices, Investigated Started in 2020 and $2.8 Billion Fine Imposed on Alibaba in 2021
6th September 2024 | Hong Kong
Alibaba ($197 billion market value) has gained China anti-trust authority approval (China State Administration for Market Regulation) for effectiveness on reform for anti-competition & monopolistic practices, with investigations starting in 2020 and $2.8 billion fine imposed on Alibaba in 2021. In 2024 August, Alibaba shareholders approved the plan to change Hong Kong secondary listing to a primary listing on 28th August 2024. With the primary listing, Alibaba share is pending approval from China & Hong Kong authorities to be included in the Stock Connect program, which will allow qualified China Mainland investors to buy Alibaba shares. In 2024 May, Alibaba is issuing a $4.5 billion 7-year convertible bonds due 2031 with 0.5% coupon & conversion premium of 30% to share price, with the $4.5 billion raised to fund future buybacks of Alibaba American Depositary Shares. In 2024 March, Alibaba logistic & delivery business Cainiao Smart Logistics Network has cancelled the IPO (filed for IPO on Hong Kong Exchange in 2023 September), and is planning to buy the remaining 36% shareholdings held by investors & employees for $3.75 billion. In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). In February 2024, Alibaba Group has announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. In late March 2024, Alibaba Group sold $357 million shares of China video streaming platform Bilibili with current market value at $4.5 billion (22/3/24). Bilibili share price has decreased -5.8% YTD, -54% in last 12 months and -42% in last 5 years. More info below:
“ $197 Billion Alibaba Gains China Anti-Trust Authority Approval for Effectiveness on Reform for Anti-Competition & Monopolistic Practices, Investigated Started in 2020 and $2.8 Billion Fine Imposed on Alibaba in 2021 “
$200 Billion Alibaba Shareholders Approved Plan to Change Hong Kong Secondary Listing to Primary Listing, Pending Approval from China & Hong Kong Authorities to be Included in Stock Connect Program Which Will Allow Qualified China Mainland Investors to buy Alibaba Shares
23rd August 2024 – Alibaba ($200 billion market value) shareholders have approved the plan to change Hong Kong secondary listing to a primary listing on 28th August 2024. With the primary listing, Alibaba share is pending approval from China & Hong Kong authorities to be included in the Stock Connect program, which will allow qualified China Mainland investors to buy Alibaba shares. In 2024 May, Alibaba is issuing a $4.5 billion 7-year convertible bonds due 2031 with 0.5% coupon & conversion premium of 30% to share price, with the $4.5 billion raised to fund future buybacks of Alibaba American Depositary Shares. In 2024 March, Alibaba logistic & delivery business Cainiao Smart Logistics Network has cancelled the IPO (filed for IPO on Hong Kong Exchange in 2023 September), and is planning to buy the remaining 36% shareholdings held by investors & employees for $3.75 billion. In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). In February 2024, Alibaba Group has announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. In late March 2024, Alibaba Group sold $357 million shares of China video streaming platform Bilibili with current market value at $4.5 billion (22/3/24). Bilibili share price has decreased -5.8% YTD, -54% in last 12 months and -42% in last 5 years. More info below:
Alibaba to Issue $4.5 Billion 7-Year Convertible Bond Due 2031 with 0.5% Coupon & Conversion Premium of 30% to Share Price, $4.5 Billion Raised to Fund Future Buybacks of Alibaba American Depositary Shares
31st May 2024 – Alibaba is issuing a $4.5 billion 7-year convertible bonds due 2031 with 0.5% coupon & conversion premium of 30% to share price, with the $4.5 billion raised to fund future buybacks of Alibaba American Depositary Shares. In 2024 March, Alibaba logistic & delivery business Cainiao Smart Logistics Network has cancelled the IPO (filed for IPO on Hong Kong Exchange in 2023 September), and is planning to buy the remaining 36% shareholdings held by investors & employees for $3.75 billion. In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). In February 2024, Alibaba Group has announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. In late March 2024, Alibaba Group sold $357 million shares of China video streaming platform Bilibili with current market value at $4.5 billion (22/3/24). Bilibili share price has decreased -5.8% YTD, -54% in last 12 months and -42% in last 5 years. More info below:
Alibaba Founder Jack Ma with $30 Billion Fortune Emerges from Low Profile Since Criticising China Financial Regulators in 2020, Wrote 1 Page Memo to Alibaba Employees to Support Restructuring Progress of Alibaba Split into 6 Independent Groups Announced in 2023 March
12th April 2024 – Alibaba founder Jack Ma with $30 billion fortune has emerged from low profile since criticising China financial regulators in 2020, writing a 1 page memo to Alibaba employees to support restructuring progress of Alibaba split into 6 independent groups announced in 2023 March. In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). In February 2024, Alibaba Group has announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. In 2023 January, China billionaire & Alibaba founder Jack Ma announced to give up control of Ant Group which owns the world largest payment platform Alipay, giving up control from 53.46% indirect control of Ant Group (shareholding) to only 6.2% voting rights. The new structure was announced by Ant Group, more than 2 years after being suspended from IPO (Initial Public Offering) that would have raised a record $34.5 billion in October 2022. Alibaba was founded in 1999 by Jack Ma and 17 friends and students in China. Today, it is one of the world’s largest e-commerce and technology company in the world.
Alibaba Logistic & Delivery Business Cainiao Smart Logistics Network Cancels IPO & Plans to Buy Remaining 36% Shareholdings Held by Investors & Employees for $3.75 Billion
30th March 2024 – Alibaba logistic & delivery business Cainiao Smart Logistics Network has cancelled the IPO (filed for IPO on Hong Kong Exchange in 2023 September), and is planning to buy the remaining 36% shareholdings held by investors & employees for $3.75 billion. In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). In February 2024, Alibaba Group has announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. In late March 2024, Alibaba Group sold $357 million shares of China video streaming platform Bilibili with current market value at $4.5 billion (22/3/24). Bilibili share price has decreased -5.8% YTD, -54% in last 12 months and -42% in last 5 years. More info below:
Alibaba Group Sells $357 Million Shares of China Video Streaming Platform Bilibili with Market Value at $4.5 Billion, Share Price Decreased -5.8% YTD, -54% in Last 12 Months & -42% in Last 5 Years
23rd March 2024 – Alibaba Group has sold $357 million shares of China video streaming platform Bilibili with current market value at $4.5 billion (22/3/24). Bilibili share price has decreased -5.8% YTD, -54% in last 12 months and -42% in last 5 years. Earlier in March 2024, Alibaba group has disclosed China state-owned enterprises or foreign sovereign wealth funds partial ownership in more than 12 Alibaba entities in sports, health, logistics & China consumer services. Sovereign wealth funds with Alibaba entities ownership are from Singapore, Malaysia, UAE & Qatar. The filing is submitted to United States & Hong Kong following an inquiry from United States Securities & Exchange Commission (SEC). In late February 2024, Alibaba Group has invested as the largest investor in the latest $1 billion funding round into artificial intelligence (AI) startup Moonshot AI at $2.5 billion valuation. Moonshot AI was founded in April 2023 by Yang Zhilin. In 2016, Yang Zhilin founded a company using AI technologies Recurrent.ai, with the same team founding Moonshot AI in 2023. Earlier in February 2024, Alibaba Group announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. More info below:
Alibaba Group Disclosed China State-Owned Enterprises or Foreign Sovereign Wealth Funds Partial Ownership in More than 12 Entities in Sports, Health, Logistics & China Consumer Services, Sovereign Wealth Funds from Singapore, Malaysia, UAE & Qatar, Filing Submitted in United States & Hong Kong Following Inquiry from United States SEC
3rd March 2024 – Alibaba group has disclosed China state-owned enterprises or foreign sovereign wealth funds partial ownership in more than 12 Alibaba entities in sports, health, logistics & China consumer services. Sovereign wealth funds with Alibaba entities ownership are from Singapore, Malaysia, UAE & Qatar. The filing is submitted to United States & Hong Kong following an inquiry from United States Securities & Exchange Commission (SEC). In late February 2024, Alibaba Group has invested as the largest investor in the latest $1 billion funding round into artificial intelligence (AI) startup Moonshot AI at $2.5 billion valuation. Moonshot AI was founded in April 2023 by Yang Zhilin. In 2016, Yang Zhilin founded a company using AI technologies Recurrent.ai, with the same team founding Moonshot AI in 2023. Earlier in February 2024, Alibaba Group announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. More info below:
Alibaba Invests as Largest Investor in Latest $1 Billion Funding Round into Artificial Intelligence Startup Moonshot AI at $2.5 Billion Valuation, Moonshot AI Founded in April 2023 by Yang Zhilin
28th February 2024 – Alibaba Group has invested as the largest investor in the latest $1 billion funding round into artificial intelligence (AI) startup Moonshot AI at $2.5 billion valuation. Moonshot AI was founded in April 2023 by Yang Zhilin. In 2016, Yang Zhilin founded a company using AI technologies Recurrent.ai, with the same team founding Moonshot AI in 2023. Earlier in February 2024, Alibaba Group announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. More info below:
Alibaba Group Announced $25 Billion Share Buyback Program Targeting to Buyback 3% of Outstanding Stocks Yearly Equivalent to $12 Billion Yearly
10th February 2024 – Alibaba Group has announced a $25 billion share buyback program targeting to buyback 3% of outstanding stocks yearly equivalent to $12 billion yearly. Alibaba Group current market value is around $180 billion (9/2/24). Earlier in January 2024, Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. More info below:
Alibaba Co-Founders Jack Ma & Joe Tsai Buy $202 Million of Alibaba Group Shares with Joe Tsai Family Office Blue Pool Management Buying $152 Million of Alibaba Shares in 2023 Q4 & Jack Ma Buying $50 Million of Alibaba Shares in 2023 Q4, Alibaba Current Market Value at $195 Billion
24th January 2024 – Alibaba co-founders Jack Ma & Joe Tsai have bought $202 million of Alibaba Group shares with Joe Tsai family office Blue Pool Management buying $152 million of Alibaba shares in 2023 Q4 and Jack Ma buying $50 million of Alibaba shares in 2023 Q4. Alibaba current market value is around $195 billion (24/1/24: HKD 1.53 trillion). In November 2023, Jack Ma family trusts (JC Properties & JSP Investment) have delayed selling 5 million of Alibaba shares valued at $870.7 million first targeted starting from 21st November 2023 (First announced on 16th August 2023). In November 2023, Alibaba (17/11/23: $200 billion market value) announced to terminate the IPO plan for the $12 billion cloud business and to postpone Freshippo grocery chain IPO planned for 2023. Alibaba will focus on creating a sustainable growth model for Cloud Intelligence Group $12 billion cloud business within Alibaba Group. In June 2023, Alibaba Group announced the Chairman & CEO succession plan (effective 10th September 2023), with co-founder Joseph Tsai (Joe Tsai) appointed as Chairman, co-founder Eddie Yongming Wu appointed as CEO (Existing Chairman of Taobao & Tmall Group), and Chairman & CEO of Alibaba Group Daniel Zhang to step down but to continue to lead Alibaba Cloud Intelligence Group as Chairman & CEO. Earlier in May 2023, Alibaba started splitting into 6 units, with immediate actions to spinoff Alibaba $12 billion cloud business, IPO for Freshippo grocery chain in 2023, IPO Cainiao Logistics in 12 to 18 months, and to raise capital for Alibaba international e-commerce division (including Southeast Asia Lazada). In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). More info below.
Jack Ma Family Trusts JC Properties & JSP Investment Delays Selling 5 Million Alibaba Shares Valued at $870.7 Million First Targeted Starting from 21st November 2023
25th November 2023 – Jack Ma family trusts (JC Properties & JSP Investment) have delayed selling 5 million of Alibaba shares valued at $870.7 million first targeted starting from 21st November 2023 (First announced on 16th August 2023). In November 2023, Alibaba (17/11/23: $200 billion market value) announced to terminate the IPO plan for the $12 billion cloud business and to postpone Freshippo grocery chain IPO planned for 2023. Alibaba will focus on creating a sustainable growth model for Cloud Intelligence Group $12 billion cloud business within Alibaba Group. In June 2023, Alibaba Group announced the Chairman & CEO succession plan (effective 10th September 2023), with co-founder Joseph Tsai (Joe Tsai) appointed as Chairman, co-founder Eddie Yongming Wu appointed as CEO (Existing Chairman of Taobao & Tmall Group), and Chairman & CEO of Alibaba Group Daniel Zhang to step down but to continue to lead Alibaba Cloud Intelligence Group as Chairman & CEO. Earlier in May 2023, Alibaba started splitting into 6 units, with immediate actions to spinoff Alibaba $12 billion cloud business, IPO for Freshippo grocery chain in 2023, IPO Cainiao Logistics in 12 to 18 months, and to raise capital for Alibaba international e-commerce division (including Southeast Asia Lazada). In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). More info below.
Alibaba Terminates IPO Plan for $12 Billion Cloud Business & Postpones Freshippo Grocery Chain IPO Planned for 2023, Jack Ma Family Trusts JC Properties & JSP Investment to Sell 5 Million Alibaba Shares Valued at $870.7 Million from 21st November 2023
18th November 2023 – Alibaba (17/11/23: $200 billion market value) has announced to terminate the IPO plan for the $12 billion cloud business and to postpone Freshippo grocery chain IPO planned for 2023. Alibaba will focus on creating a sustainable growth model for Cloud Intelligence Group $12 billion cloud business within Alibaba Group. Separately, Jack Ma family trusts (JC Properties & JSP Investment) are selling 5 million of Alibaba shares valued at $870.7 million from 21st November 2023 (First announced on 16th August 2023). In June 2023, Alibaba Group announced the Chairman & CEO succession plan (effective 10th September 2023), with co-founder Joseph Tsai (Joe Tsai) appointed as Chairman, co-founder Eddie Yongming Wu appointed as CEO (Existing Chairman of Taobao & Tmall Group), and Chairman & CEO of Alibaba Group Daniel Zhang to step down but to continue to lead Alibaba Cloud Intelligence Group as Chairman & CEO. Earlier in May 2023, Alibaba started splitting into 6 units, with immediate actions to spinoff Alibaba $12 billion cloud business, IPO for Freshippo grocery chain in 2023, IPO Cainiao Logistics in 12 to 18 months, and to raise capital for Alibaba international e-commerce division (including Southeast Asia Lazada). In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). More info below.
$233 Billion Alibaba Group Announced Chairman & CEO Succession Plan Effective 10th September 2023: Co-founder Joseph Tsai Appointed as Chairman & Co-founder Eddie Yongming Wu as CEO, Chairman & CEO of Alibaba Group Daniel Zhang to Step Down But to Continue to Lead Alibaba Cloud Intelligence Group as Chairman & CEO
24th June 2023 – Alibaba Group with $233 billion market capitalization has announced the Chairman & CEO succession plan (effective 10th September 2023), with co-founder Joseph Tsai (Joe Tsai) appointed as Chairman, co-founder Eddie Yongming Wu appointed as CEO (Existing Chairman of Taobao & Tmall Group), and Chairman & CEO of Alibaba Group Daniel Zhang to step down but to continue to lead Alibaba Cloud Intelligence Group as Chairman & CEO. Earlier in May 2023, Alibaba started splitting into 6 units, with immediate actions to spinoff Alibaba $12 billion cloud business, IPO for Freshippo grocery chain in 2023, IPO Cainiao Logistics in 12 to 18 months, and to raise capital for Alibaba international e-commerce division (including Southeast Asia Lazada). In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). More info below.
$233 Billion Alibaba Group Announced Chairman & CEO Succession Plan Effective 10th September 2023
Daniel Zhang, Outgoing Chairman & CEO of Alibaba Group: “It has been an incredible honor and privilege to lead Alibaba Group as CEO over the past eight years and Chairman over the past four years. This is the right time for me to make a transition, given the importance of Alibaba Cloud Intelligence Group as it progresses towards a full spin-off. I look forward to working closely with Joe and Eddie in the coming months to ensure a seamless transition. “Looking ahead, I am committed to strengthening Alibaba Cloud Intelligence Group’s market leadership by making cloud computing and artificial intelligence more accessible for businesses of all sizes and industries as they continue their digital transformation. The emergence of generative AI has also opened up exciting new opportunities that Alibaba Cloud Intelligence Group is well-positioned to capture.”
Joseph Tsai, Incoming Chairman of Alibaba Group: “Daniel has made exceptional contributions to the development of Alibaba Group since joining the company in 2007, and he demonstrated extraordinary leadership in navigating unprecedented uncertainties affecting our business over the past few years. We believe there is no better leader than Daniel to steer Alibaba Cloud Intelligence Group into the next chapter of its journey and future growth. As chief technology officer of key businesses including Taobao and Alipay during Alibaba’s critical phases of development, Eddie was instrumental in architecting our technology platforms and guiding our strategic direction. He led the creation of our proprietary monetization platform on Taobao and Tmall, and drove the launch of the Mobile Taobao App to propel our company to the mobile-first era. I look forward to working with Eddie to spark our next phase of growth through technology and innovation,” said Tsai.
Joe Tsai joined our company in 1999 as a member of the Alibaba founding team and has served on our board of directors since our inception. He was chief financial officer until 2013 and is currently our executive vice chairman. Joe is a founding member of Alibaba Partnership. He is chairman of Cainiao Smart Logistics, a board member of Taobao and Tmall Group, and a board member of our financial services affiliate Ant Group. From 1995 to 1999, Joe was a private equity investor based in Hong Kong with Investor AB, the main investment vehicle of Sweden’s Wallenberg family. Prior to that, he was general counsel of Rosecliff, Inc., a management buyout firm based in New York. From 1990 to 1993, Joe was an associate attorney in the tax group of Sullivan & Cromwell LLP, a New York-based international law firm. Joe is qualified to practice law in the State of New York. Joe received his bachelor’s degree in Economics and East Asian Studies from Yale College and a juris doctor degree from Yale Law School.
Eddie Yongming Wu, Incoming CEO of Alibaba Group, Existing Chairman of Taobao & Tmall Group: “I am grateful for the trust of the Alibaba Group board of directors and am honored to succeed Daniel as Alibaba’s CEO. Over the past 24 years, Alibaba has consistently innovated through evolution and breakthroughs from within, and each transformation has catalyzed new growth. While our current transformation brings in a new corporate organizational and governance structure, Alibaba’s mission remains unchanged. We will continue to enable individuals and businesses to benefit from the digital economy and serve our customers with unique value proposition supported by innovation and our leading technology.”
Eddie Yongming Wu is one of our co-founders, a member of the Alibaba Partnership and chairman of Taobao and Tmall Group since May 2023. Mr. Wu was technology director of Alibaba at the company’s inception in 1999. He served as chief technology officer of Alipay from December 2004, and became business director of our monetization platform, Alimama, in November 2005 and was promoted to its general manager in December 2007. In September 2008, he became chief technology officer of Taobao , and in October 2011 he took on the role of head of Alibaba Group’s search, advertising and mobile business. Mr. Wu served as director of Alibaba Health Information Technology Limited (“Alibaba Health”), a company listed on the Main Board of the Hong Kong Stock Exchange, from April 2015 to October 2021 and chairman of Alibaba Health from April 2015 to March 2020. From September 2014 to September 2019, Mr. Wu was special assistant to Alibaba Group’s board chairman. In August 2015, Mr. Wu founded Vision Plus Capital, a venture capital firm focused on investing in advanced technologies, enterprise services and digital healthcare. He graduated from the College of Information Engineering of Zhejiang University of Technology in June 1996.
Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.
Alibaba Starts Split into 6 Units, Prepares Spinoff of $12 Billion Cloud Business, IPO for Freshippo Grocery Chain in 2023, IPO Cainiao Logistics in 12 to 18 Months, Raise Capital for International E-Commerce Division
19th May 2023 – Alibaba has started splitting into 6 units, with immediate actions to spinoff Alibaba $12 billion cloud business, IPO for Freshippo grocery chain in 2023, IPO Cainiao Logistics in 12 to 18 months, and to raise capital for Alibaba international e-commerce division (including Southeast Asia Lazada). In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). Except for Taobao Tmall Business Group, the 6 groups will be managed independently by CEO & Board, and will be able to raise capital or explore an IPO. More info below.
Alibaba Group Informed China Media Yicai of No Plans to IPO Alibaba Global Digital Commerce Group in United States, Bloomberg Reported on 4th May 2023 of Alibaba Intention to List the Business Group in United States
5th May 2023 – Alibaba Group has informed China Media Yicai of no plans to IPO (Initial Public Offering) Alibaba Global Digital Commerce Group in United States (5th May 2023), which Bloomberg had reported on 4th May 2023 of Alibaba intention to list the business group in United States. In 2023 March, Alibaba Group (Regulatory filing on 27/3/23) announced to split into 6 independent groups and to raise capital or explore IPO independently. The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). Except for Taobao Tmall Business Group, the 6 groups will be managed independently by CEO & Board, and will be able to raise capital or explore an IPO. More info below.
Alibaba to Split into 6 Independent Groups & to Raise Capital or Explore IPO, Current Market Value at $254 Billion with Founder & Billionaire Jack Ma Returning to China
29th March 2023 – Alibaba Group (Regulatory filing on 27/3/23) will be splitting into 6 independent groups and to raise capital or explore IPO independently. Alibaba current market capitalization is around $254 billion (29/3/23), with founder & billionaire Jack Ma returning to China after a long absence from the public (26/3/23). The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). Except for Taobao Tmall Business Group, the 6 groups will be managed independently by CEO & Board, and will be able to raise capital or explore an IPO. Earlier in 2023 January, China billionaire & Alibaba founder Jack Ma (net worth $25 billion) announced to give up control of Ant Group which owns the world largest payment platform Alipay, giving up control from 53.46% indirect control of Ant Group (shareholding) to only 6.2% voting rights. The new structure was announced by Ant Group, more than 2 years after being suspended from IPO (Initial Public Offering) that would have raised a record $34.5 billion in October 2022. More info below.
China Billionaire Jack Ma to Give Up Control of Ant Group, From 53.46% Indirect Control of Ant Group to 6.2% Voting Rights
7th January 2023 – China billionaire & Alibaba founder Jack Ma (net worth $25 billion) will give up control of Ant Group which owns the world largest payment platform Alipay, giving up control from 53.46% indirect control of Ant Group (shareholding) to only 6.2% voting rights. The new structure was announced by Ant Group, more than 2 years after being suspended from IPO (Initial Public Offering) that would have raised a record $34.5 billion in October 2022. Alibaba owns 33% of Ant Group. With the restructuring of Ant Group, China Banking & Insurance Regulatory Commission approved Ant Group consumer finance business application to increase registered capital by $1.5 billion ($1.2 billion to $2.7 billion). More about Ant Group below.
China Fintech Ant Group Appoints Hong Kong Exchange Chairman Laura Cha as Independent Director
3rd June 2022 – China fintech Ant Group has appointed Hong Kong Exchange (HKEX) Chairman Laura Cha as Independent Director of Ant Group. Laura Cha is also a member of the Executive Council of the Hong Kong government. In November 2020, Ant Group planned IPO that will raise $34.5 billion and create a Chinese financial technology giant with more than $300 billion market capitalization, was suspended by both Shanghai and Hong Kong Exchange. In April 2021, China regulators announced Ant Group is to be restructured into a financial holding company, that will require the financial technology company be supervised under banking regulations. Ant Group is also required to implement new changes, including opening up its payment apps to competitors, oversight of consumer lending businesses, increased data protection and to reduce the size of its money market fund.
Ant Group IPO in 2020 Suspended
In November 2020, Ant Group planned IPO that will raise $34.5 billion and create a Chinese financial technology giant with more than $300 billion market capitalization, was suspended by both Shanghai and Hong Kong Exchange. In April 2021, China regulators announced Ant Group is to be restructured into a financial holding company, that will require the financial technology company be supervised under banking regulations. Ant Group is also required to implement new changes, including opening up its payment apps to competitors, oversight of consumer lending businesses, increased data protection and to reduce the size of its money market fund.
Alibaba was founded in 1999 by Jack Ma and 17 friends and students in China. Today, it is one of the world’s largest e-commerce and technology company in the world.
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