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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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