Alibaba’s sprawling businesses also include brick-and-mortar stores, online video, movies and other enterprises, and it has sought to expand in promising new markets like Southeast Asia and India. But investors have begun to worry in recent months that Alibaba’s road is getting tougher, and shares of Alibaba and some of its rivals have fallen significantly in recent months. Its main rival, JD.com, reported disappointing financial results last month, though Alibaba’s results were better. The Chinese government has also taken a tougher line on its thriving technology scene over the past year. Alibaba and Mr. Ma on Monday portrayed the succession plan as a sign that the company isn’t dependent on one person.

Source: New York Times September 10, 2018 01:48 UTC