alibaba nft scmp 768x461 1 - Report: Alibaba Considers Taking eCommerce Business Public

Report: Alibaba Considers Taking eCommerce Business Public

Alibaba is reportedly mulling a U.S. initial public offering (IPO) for its eCommerce unit.

The Chinese tech giant is in the early stages of weighing the, listing Bloomberg reported Thursday (May 4), citing unnamed sources. The IPO size, which could come next year, is undetermined.

The company appeared to deny the report when asked for comment by PYMNTS, offering a one-sentence statement: “Currently, there is no IPO plan.”

The news comes weeks after Alibaba announced it would divide itself into six pieces, allowing it to take at least some of the new businesses public.

“The original intention and fundamental purpose of this reform are to make our organization more agile, shorten decision-making links, and respond faster,” CEO Daniel Zhang said in a letter to Alibaba workers in March.

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