Alibaba lifts veil on 'partnership' ahead of US IPO
Published on Jun 17, 2014 6:43 AM
NEW YORK (AFP) - Chinese Internet giant Alibaba, the world’s largest online retailer, on Monday disclosed details of its unusual “partnership” management in documents filed for its US stock offering.
The filing with the Securities and Exchange Commission names for the first time all 27 “partners” who steer the firm, which is often described as a Chinese version of Amazon or eBay.
“We believe that our partnership approach has helped us to better manage our business, with the peer nature of the partnership enabling senior managers to collaborate and override bureaucracy and hierarchy,” the document said.
There are no fixed number of partners and it may vary as members come and go, it added.
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