Alibaba Pictures is sitting on $10 Billion worth and has announced more share selling, even before it has earned.
Latest Alibaba newsis regarding the question that might arise, whether Alibaba is worth $10 billion? It’s been merely 12 months that the entertainment arm of the Chinese e-commerce giant began their operations and even before the company released a single movie; the Group has seen its shares that are publicly traded climbed beyond seven fold in order to reach $9.6 billion market cap when it comes to stock exchange of Hong Kong.
The company has been majorly owned by Jack Ma, the founder of Chinese e-commerce giant and also the billionaire who is famous and known for the driving up the stock price by certain moves that are too flashy, such as Zhang Qiang being hired as CEO and also the heavy $400 million investment that his friend cum actress…
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