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Some of China’s state-backed telecommunications companies are keen on investing in Alibaba Cloud, said sources familiar with the matter. Alibaba Group Holding Ltd.’s cloud computing division, Alibaba Cloud, is considering a private round of fundraising from Chinese state-owned enterprises before making a debut in Hong Kong. Sources familiar with the matter stated that Alibaba Cloud is working with advisers to raise about 10 billion yuan to 20 billion yuan ($1.4 billion to $2.8 billion)....

Alibaba Cloud has emerged as an early IPO candidate and will reportedly pursue a 7% staff layoff amid its ‘streamlined’ restructuring.  The cloud arm of Chinese e-commerce giant Alibaba Group (NASDAQ: BABA) has begun a layoff set to affect 7% of its total workforce. Sources describe the downsizing as part of broader measures to prepare Alibaba’s cloud division for a spinoff. Furthermore, sources add that the new standalone company would ultimately pursue an initial public offering (IPO)....

Management consulting and research firm Everest Group has released a new market report focusing on the future of blockchain. The report, entitled “BigTech Battle: Assessing Managed Blockchain Platform Readiness for Enterprise Use,” addresses a number of major players developing blockchain projects, including Hewlett Packard, IBM, and Microsoft.The report cites Jelurida’s Ardor blockchain-as-a-service platform, alongside Multichain’s Enterprise, as two technologies with favorable ease of...

Prolific Billionaire Jack Ma has stepped down as Chairman of Alibaba. After twenty years which has seen one of the biggest technology giants come from zero to hero, Ma has been one of the defining icons of the technology industry since the early days when no one thought that technology would be either this big or go this far in defining the human existence.He would remain on the board until the next Shareholders Annual General Meeting when it is expected that he will step down from the board...