alibaba group holding limited baba shares are soaring in the premarket session as the company looks to restructure to unlock value since its establishment over two decades ago alibaba has proposed revamping its operations in its most significant corporate restructuring alibaba will reorganize its businesses into six independently run entities cloud intelligence group ecommerce under taobaotmall cainiao’s smart logistics operations local services group global digital business group and the digital media and entertainment group scmp reports the restructuring aims to streamline management and shorten decisionmaking taking a page out of the playbook of alphabet inc goog googl also read alibaba’s aliexpress prioritizes spain for overseas growth also eyes south korea alibaba ceo daniel zhang will delegate operational decisions including hiring and firing research profit and losses to the ceos of each business unit each of the business units will have to face the tests of market forces themselves including the possibility of seeking their initial public offerings ipos zhang said “with this change middle and back office functions at alibaba will be slimmed down while only functions required for listed company compliance will be retained” zhang will head the new cloud intelligence unit in charge of cloud computing and big data trudy dai will head the taobaotmall division as ceo while yu yongfu will head the local services group cainiao’s current ceo wan lin will continue to head the smart logistics group jiang fan will lead the global digital business group and fan luyuan will lead the digital media group nearly 70 of alibaba’s 170 billion yuan 247 billion in thirdquarter revenue came from the largest ecommerce platforms taobao and tmall marketplace but the cloud computing business is alibaba’s fastestgrowing unit with the most significant potential price action baba shares traded higher by 735 at 9245 premarket on the last check tuesday