Alibaba BABA - Its Game Plan To Come Back From a Horrific Year
The plan is to grow its international business and delve deeper into an under-served 15 trillion yuan ($2.4 trillion) rural Chinese e-commerce market, laying out its recovery plan after a devastating year marked by political and economic turmoil.
Alibaba, which at its peak was Asia’s largest corporation with a $860 billion market value, has plummeted more than 60% since Feb 2021
Its domestically leading cloud division, local services such as food and grocery delivery, and logistics. Alibaba’s cloud division, its second-largest revenue contributor, was a bright spot in the latest September quarter. Sales at that unit grew 33% during the period, accelerating thanks to investments in technology.
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