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tech driven wealth management for digital natives ✌️【365vc.net】✌️Start investing with just ₹500. Leverage AI tools for smart decisions and maximize your profits. Join now!With Yintai Group’s billionaire founderShen Guojun, Alibaba took the department store chain private in 2017 in a $2.6 billion deal.The e-commerce giant cofounded by billionaireJack Maharbored dreams of using internet technologies to upgrade brick-and-mortar retail.

For example, itonce wanted togenerate service fees by selling customer analysis algorithms to offline retailers, and take a cut from their revenues if sales improved.

It bought brick-and-mortar stores to experiment and diversify the company’s revenue streams.That plan never lived up to expectations, and Alibaba has said it will refocus on its core e-commerce business.

“Alibaba may continue to sell more assets and investors could already be expecting this,” Wang Xiaoyan, a Shanghai-based analyst at research firm 86Research, says in messages sent over WeChat.

“Management’s goal is now focusing on the pure internet-based business, and turning Alibaba back to an internet company.”Wang says Alibaba may also sell RT-Mart, the hypermarket chain it acquired a controlling stake of for about $3.6 billion in 2020.

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