ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
China tech

As Jack Ma era ends, Alibaba sets high goal for cloud business

Successor Daniel Zhang aims to double group's user base to 2 billion by 2036

Alibaba Group Holding founder Jack Ma, left, with Daniel Zhang, his successor as chairman and CEO, in 2015.     © Reuters

HONG KONG -- Alibaba Group Holding's cloud services business will turn a profit for the first time this year thanks to work-from-home demand driven by the coronavirus pandemic, according to Daniel Zhang, the group's chairman and chief executive.

He made the announcement during an investor briefing on Wednesday, hours ahead of Alibaba's annual general meeting where Jack Ma, Zhang's predecessor, will officially exit the board of the company he started in a small Hangzhou apartment in 1999.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more