Alibaba closes social science research institute that Jack Ma once hoped would survive for 300 years
The unannounced closure of Luohan Academy, an open research institution with a grand mission to help solve “some of the world’s most pressing economic and social challenges,” comes after Hangzhou-based e-commerce giant Alibaba This was done as part of a fundamental reorganization. He owns the South China Morning Post newspaper.
At the same time, some of the academy’s operations, including its environmental, social and governance research teams, remain within Alibaba, according to people familiar with the matter.
Alibaba is splitting its vast business empire into six major groups. Taobao and Tmall, cloud, local services, international commerce, entertainment, Cai Bird, and a number of small business units. Smart logistics network Cainiao has filed for an initial public offering in Hong Kong to raise at least US$1 billion.
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As part of the restructuring, resources and talent are being committed to frontline businesses.
Alibaba’s new CEO Eddie Wu Yongming said in a letter to employees last month that Alibaba is “putting users first” as it seeks new growth in a changing internet environment. ” and “artificial intelligence-led.”
Insiders say Luohan Academy, which has sponsored research programs on topics such as “Privacy and Data Governance,” “Measuring the New Economy,” and “Future of Finance,” has been functioning as an academic institution rather than a revenue-generating entity. It is said that He has published research reports with titles such as “Digital Circular Economy for Net Zero”.
This was initiated with the support of Mr. Ma, who stepped down as Alibaba’s chairman in September 2019, and the Chinese entrepreneur said the move was a shift in the company’s responsibility to answer specific questions about the impact of technology on society. Some said it was. Therefore, he hoped that Luohan Academy would last for 300 years.
Alibaba declined to comment. Luohan Academy, also based in Hangzhou, did not respond to a request for comment.