Alibaba, the Chinese ecommerce giant, has officially announced its intention to list its cloud computing business, the Cloud Intelligence Group, in an initial public offering (IPO) within the next 12 months. This move comes shortly after Alibaba’s decision to split its operations into six divisions. The company is also planning IPOs for its shopping platform Freshippo and logistics firm Cainiao.
Alibaba’s cloud business has faced some financial instability, with its quarterly revenue for the cloud division only showing a modest 2% increase, falling short of analyst expectations. Despite this, the company remains optimistic about the future of its cloud computing sector and sees potential for significant growth.
