Alibaba's 1688, Xianyu, DingTalk, and Quark will operate as independent subsidiaries in the future

Alibaba Group CEO Wu Yongming announced the first batch of strategic innovative businesses at tonight’s financial analyst conference call. These businesses include 1688, Xianyu, DingTalk and Quark

In the future, these strategic innovative businesses will be organized as independent subsidiaries and will break their previous positioning within the group. Alibaba will continue to invest in a 3-5 year cycle.

This site noticed that Wu Yongming also clarified the selection criteria for strategic innovative businesses for the first time: having a large enough market space; having unique market positioning; in line with user demand trends and the group’s “AI-driven business” "strategy. "Successful technology companies must have the ability to travel through technology cycles," Wu Yongming said. Facing the AI ​​era, Alibaba will resolutely devote itself to technological revolution and product innovation, create and incubate innovative businesses and technology products, and meet the continuously expanding market demand for products and services. New expectations and new needs.

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Alibaba’s revenue in the second quarter of fiscal year 2024 was 224.79 billion yuan, a year-on-year increase of 9%

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