Economics
Alibaba Group to Split Taobao Online Retail Unit Into Three
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Alibaba Group Holding Ltd., China’s biggest online-commerce company, reorganized its Taobao retail unit into three companies to better meet customer demands, Chief Executive Jack Ma said.
The unit will be split into Taobao Mall for consumers to shop from businesses, eTao for shopping-related searches, and Taobao Marketplace for consumers to buy and sell goods from each other, Alibaba said in a statement today.