Alibaba Group's plans for a major revamp

Published On: March 30, 2023 - Alibaba has announced a plan to separate its $255 billion empire into divisions that will raise funds individually and eventually explore initial public offerings. The e-commerce pioneer is set to create six separate business units. The move may compel rivals like Tencent to follow a similar path. The plan to split Alibaba Group Holding Ltd. into six units sent the company�s stock soaring on Tuesday.