Stay up to date with free updates Simply sign up for the Chinese Business & Finance myFT Digest – straight to your inbox. Alibaba boss Eddie Wu has strengthened his hold on the sprawling tech conglomerate, reshuffling management again to take direct control of its core e-commerce business as the company loses market share to … [Read more…]
Trader works on the spot where Alibaba trades on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023. Portal/Brendan McDermid Brendan Mcdermid | Portal BEIJING – Alibaba Group CEO Eddie Wu is taking the leadership role at the company’s Taobao and Tmall e-commerce businesses, replacing Trudy Dai … [Read more…]
Jack Ma, co-founder of technology giant Alibaba. Wang HE/Getty Images Temu’s parent company, PDD Holdings, is currently more valuable than Alibaba. PDD’s market capitalization overtook Alibaba a day after Jack Ma praised the rival e-commerce upstart. PDD’s market cap is nearly $185 billion, while Alibaba’s market cap is nearly $184 billion. Chinese tech giant Alibaba … [Read more…]