Taotian Steps Back from Price Wars, Alibaba Cloud Takes Over
In 2023, Alibaba shifted its strategy under new CEO Wu Yongming, pulling back from e-commerce price wars while focusing on cloud services and AI growth.
In September 2023, Wu Yongming became Alibaba Group's CEO, marking the end of a series of internal changes. Now, as the head of Alibaba's key businesses, Taotian and Alibaba Cloud, he has become the company's most important decision-maker.
A year later, in September, many significant events unfolded for Alibaba.
After switching to a dual listing in Hong Kong, Alibaba was included in Stock Connect. Taobao further integrated with WeChat, and the State Administration for Market Regulation concluded its three-year anti-monopoly measures. The company also celebrated its 25th anniversary.
Founder Jack Ma, who had been quiet for some time, described Alibaba as having completed "one-fourth of the journey" in an internal message. After reflecting on the company's ideals, he emphasized the importance of market competition.
"No company can always stay number one in any field. Only competition makes you stronger and helps the industry grow healthier. Alibaba has never relied on protection. It believes in the power of the market and the value of innovation."
At the same time, under Wu Yongming's leadership, Alibaba's competitive strategy has become clearer—perhaps the clearest since its biggest transformation began.
This strategy is straightforward: Taotian is stepping away from price wars, while Alibaba Cloud takes over the fight.
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