News Snapshot:
Alibaba Group Holding has created a new subsidiary called Lingyang Intelligent Service Co to help companies in their digital transformation , a move that deepens the Chinese e-commerce giant’s pivot to the enterprise market. The new business unit, which pulls together existing digital capabilities within the Hangzhou-based firm, represents “an important step for Alibaba after thoughtful consideration”, company chairman and chief executive Daniel Zhang Yong said in a statement on June 29. The new subsidiary will provide “data-intelligence-as-a-service” to help enterprises in decision-making and operational efficiency. Alibaba coined that marketing term to distinguish what Lingyang offers from software-as-a-service, a long-standing...
