Jack Ma, Alibaba's founder, revealed in a financial report that they're reversing plans for two sub-business IPOs, canceling the Alibaba Cloud food spin-off, and reassessing the He Ma Market's initial public offering.
Jack Ma, the Alibaba (BABA) founder, disclosed in a financial report that they are reversing two decisions. They initially planned to spin off two sub-businesses for an IPO, but now they're pulling the plug on that. There will be no food spin-off for Alibaba Cloud, and they are reassessing the initial public offering for the He Ma Market.
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