Alibaba Sets Sights on Mobile Users
The new chief of Alibaba Group Holding Ltd. said the Chinese company will seek more alliances and acquisitions to gain better access to smartphone users, while taking advantage of data from its shopping sites to offer tailor-made services for sellers and buyers.
Chief Executive Jonathan Lu, in his first media interview since he took the helm in May, said that the company has yet to decide on when and where it will list its shares. “We are ready, and we can do an IPO any time,” said Mr. Lu, who replaced Alibaba founder Jack Ma as CEO. Both Hong Kong and New York are “suitable” locations for the listing, he said, though Alibaba is more familiar with the procedures in Hong Kong, where its Alibaba.com unit used to be listed. When it comes to completing the timetable, “the button will be pressed by Jack,” Mr. Lu said.