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tag: Alibaba

download (3).jpg 08 January 2023

Jack Ma is giving up control of Ant Group

Jack Ma is giving up controlling rights of Ant Group Co., as the billionaire further retreats from his online empire following China’s unprecedented tech crackdown. The company is offering 10 individuals, including the founder, management and staff, voting rights independently, effectively removing Ma’s control of Ant, according to an announcement on Saturday. [Jack Ma cedes control of Ant Group – FT]

 

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download (4).jpg 05 September 2022

Alibaba’s unit Lazada plans to enter the European market and take on its online rivals such as Amazon and Zalando

In an interview with Bloomberg News, Lazada’s CEO, James Dong, highlighted that Europe is a “very big market” and that ”for most of the European brands, their largest retail partner is Alibaba Group because of their sales in China and in other markets.” Dong took over the helm in June after heading Lazada’s Thailand and Vietnam operations. “We go where the brands want us to go,” he added. [Alibaba's Lazada Plans Europe Push to Challenge Amazon and Zalando – Bloomberg]

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