Alibaba Group, headed by chairman Jack Ma, will reportedly launch a 10 billion yuan fund targeting acquisitions in China’s cultural, media and entertainment sectors. Photo: Bloomberg

Alibaba to create a new cultural and entertainment group, launch 10bn yuan investment fund

UCWeb chief executive Yu Yongfu will run the new group, while Youku founder Victor Koo will oversee a new 10 billion yuan fund

Topic |   Alibaba

TOP PICKS

Alibaba Group, headed by chairman Jack Ma, will reportedly launch a 10 billion yuan fund targeting acquisitions in China’s cultural, media and entertainment sectors. Photo: Bloomberg
READ FULL ARTICLE