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After doubts about Alibaba’s future, co-founder Joe Tsai says: ‘We’re back’ [Video]

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Ecommerce

VIDEO2:5702:57

Alibaba is focusing on performance amid increased competition, Joe Tsai says

Chinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC’s Emily Tan in an exclusive interview Friday.

Questions about Alibaba’s future have mounted after a series of internal changes, a scrapped cloud computing IPO and competition for its core e-commerce business.

The long-time behemoth in China’s online shopping world has in recent years faced greater competition as cost-conscious consumers turn to lower-priced goods from PDD Holdings, and amid the rise of livestreaming sales on Douyin, China’s version of TikTok that’s owned by ByteDance.

“Now with the restructuring and with the new management in place, we feel a lot more confident in placing as one of the top e-commerce players in China,” Tsai said. “Where we didn’t feel as confident as before, we felt …

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