Alibaba Group Establishes Sports Group
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September 9, 2015 7:30 AM EDT
Cantor Fitzgerald maintained a Buy rating on Alibaba (NYSE: BABA), and cut the price target to $88.00 (from $95.00), following an investor conference. Comments made by the company indicated that GMV growth is seeing negative impact on consumer spending as a result of ongoing macro weakness in... More
September 9, 2015 6:59 AM EDT
Alibaba (NYSE: BABA) announced that it has established Alibaba Sports Group together with Sina Corporation (Nasdaq: SINA) and Yunfeng Capital to transform Chinas sports industry through Internet-enabled technologies.
Alibaba Sports Group will be majority-owned by Alibaba Group. Daniel Zhang, Alibaba Groups chief executive officer, will serve as chairman of Alibaba Sports Group. Zhang Dazhong, the former vice president of Shanghai Media Group, will serve as Alibaba Sports Groups chief executive officer.
Alibaba Sports Group aims to... More
