Alibaba to split into 6 business units, pursue IPOs
Chinese tech giant Alibaba on Tuesday said that it is planning to split the company into six business units, and each unit will explore fundraising or IPOs (initial public offerings), media reports said.The six units will include the Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group, and Digital Media and Entertainment Group, reports CNBC.Each business unit will be led by its own CEO and board of directors.During the past couple of…