Jack Ma is a one of the greatest and most wealthiest Chinese business magnate in the history. He is mainly known for his website Alibaba.com but also has many subsidiary companies with the only motive to increase the profit inflow. Here is an outlook in the companies owned by Jack Ma apart from Alibaba.com.
YOUKU TODOU INC.
It is a Chinese multi-screen entertainment which was founded in 2003. In 2014, Alibaba purchased $1.1 billion of Class A ordinary class shares of the company which had a 16.5% equity interest. At the same time Yunfeng invested 132 million for an approximately 2% equity interest.
ALIBABA PICTURES GROUP
Alibaba first acquired a controlling interest in Alibaba Pictures Group, formerly known as ChinaVision Media, in June 2014. A financing transaction the following year led to a dilution of Alibaba’s stake from a controlling to a minority interest. In March 2019, the company purchased newly issued shares of Alibaba Pictures that increased its equity interest to about 51%. Alibaba Pictures became, once again, a consolidated subsidiary of Alibaba.
SOUTH CHINA MORNING POST
It is an English language newspaper which was headquartered in Honk Kong and was founded in 1903. The acquisition included the newspaper, the group’s magazine, recruitment, outdoor media, events and conferences, education, and digital media businesses.
It is an e-commerce platform found in 2012. In 2014, Alibaba purchased 54% of equity interests in Lazada Group worth $1 million. It has users over 200 million which are spread over six Southeastern Asian countries:Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. The deal will bolster Alibaba’s e-commerce presence outside of China.
INTIME DEPARTMENT STORES
It is one of greatest departmental stores across China which was founded in 2005. In 2014, Alibaba invested $692 million intime and steadily increased its stake in the company over the years and in 2018 its stake in the company was 99%. Despite starting out as an e-commerce company, Alibaba’s acquisition of Intime shows it also sees select brick-and-mortar retail businesses as growth opportunities.