Maggie Wu to head investment at Alibaba


China’s Alibaba Group Holdings Ltd said it has appointed Maggie Wu as the new head of strategic investment.

Before her new position, Maggie Wu was the chief financial officer at the eCommerce giant.

The move is part of the business and management reshuffle at Alibaba.

The company also announced that Freshippo, will become a standalone business, and enterprise software unit DingTalk will be merged into the firm’s cloud unit.

Alibaba is preparing for its Hong Kong initial public offering which is targeting to raise about $20 billion.

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