Alibaba Group raises investment spending
Alibaba.com plan for further investment
Alibaba’s Strategic Investment unit head Wei Zhang will dig deep in her investment pocket by committing an additional $200 million to $300 million over the next few years for the group’s expansion.
Ms Zhang, interviewed by Wall Street Journal lately, said the company is looking at investment opportunities in an effort to spreading its wings to other areas such as,mobile Internet, electronic payment.
The Group’s Chief Financial officer Joe Tsai also said, ” we are looking for opportunities that would complement our core business.”
Last month, the company acquired a minority stake in Guangzhou-based UCWEB Technology Ltd., which is specialised in developing web browser for mobile phone.
The investment strategy seems to be pronounced as Ms Zhang and Mr Tsai also spoke of the same direction at the same time.
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