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Alibaba's six-way split, Disney cuts its metaverse team, Substack's raise & more | E1708
This Week in Startups
Alibaba Spins Itsself Out Into Six Different Independently Run Companies
Alibaba announced it will spin itself out into six different independently run companies. The stock is up 13% on the news. This is coming at a super interesting time because the Alibaba co-founder Jack Ma was just seen in China for the first time in over a year earlier this week. And do you remember what happened to Jack Ma? We talked about it earlier. He disappeared. So he's back and they're breaking the company up. That's too powerful of an asset. They're getting, is this where the data comes into play that you were talking about previously? That's a good theory. Yeah.
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