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![Alibaba Group chairman and CEO Ma Yun. [Getty Images]](http://thebricspost.com/wp-content/uploads/2013/01/Alibaba-300x200.jpg)
Alibaba Group chairman and CEO Jack Ma [Getty Images]
As part of a diversification drive, the company plans to restructure its business into 25 different groups.
They say this will help it reach higher levels of efficiency and share resources within the fast-expanding company.
Chairman of Alibaba Group, Jack Ma said in an open letter that the restructuring would allow the company to better face the challenges in the mobile Internet era and allow more flexible collaboration.
“This will allow Alibaba to have better flexibility and help reshape employees’ creativeness,” Ma wrote.
A strategic committee and an executive management committee has been put in place to take care of the restructuring decisions.
China’s e-commerce service industry registered an 83 per cent rise in income last year to $32.2 billion, Alibaba Group’s research centre said in a report on January 10.
According to a new report by market research company Data Center of China Internet, China’s online advertising market is expected to have more than $16 billion in sales this year.
On November 11 2012, Alibaba initiated a promotion through Taobao.com and Tmall.com that registered total sales of 19.1 billion yuan in a single day.
Source: Agencies
