Billionaire Jack Ma, founder of Alibaba Group Holding Ltd., said he plans to focus on environmental protection and education as he steps down as chief executive officer of China’s largest e-commerce company before an initial public offering.
Alibaba Group Holding Ltd. doesn’t want to be the next Facebook Inc. -- at least for its prospective initial public offering. The world’s biggest online retailer is considering a more conservative valuation than what the social-networking company achieved last year, a person familiar with the situation said.
Alibaba Group Holding Ltd. named a new chief financial officer as part of a management reorganization that has fueled speculation China’s largest e- commerce company is preparing for an initial public offering.
Alibaba Group Holdings Ltd.’s billionaire founder Jack Ma will step down as chief executive officer, stoking speculation that China’s largest e-commerce company is preparing for an initial public offering.