Business
Feeding the struggling beast: Chinese giant Alibaba has a lot riding on Ant’s success – Sydney Morning Herald
Ant Group’s imminent IPO promises to make a lot of people rich, including founder Jack Ma. But it has an important role to play with its misfiring big brother Alibaba.
China’s dominant online retailer is suffering its slowest growth ever, and operating margins have fallen to a third of where they were six years ago as it spends more on marketing to juice growth in a maturing economy. While profits are still decent, they’re no longer as fat or expanding as quickly as they once were. As I’ve written before, Alibaba’s heady growth days are over, and this was happening well before COVID-19 hit revenue in the March quarter.
An early post-pandemic belief that Aliba…
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