The 6 Alibaba groups are Cloud Intelligence Group (cloud, AI and DingTalk), Taobao Tmall Business Group (Taobao, Tmall, Taobao Deals, Taocaicai, 1688.com ), Local Services Group, Global Digital Business Group (Lazada, AliExpress, Trendyol, Daraz, Alibaba.com ), Cainiao Smart Logistics and Digital Media & Entertainment Group (Youku, Alibaba Pictures). Except for Taobao Tmall Business Group, the 6 groups will be managed independently by CEO & Board, and will be able to raise capital or explore an IPO. Earlier in 2023 January, China billionaire & Alibaba founder Jack Ma (net worth $25 billion) announced to give up control of Ant Group which owns the world largest payment platform Alipay, giving up control from 53.46% indirect control of Ant Group (shareholding) to only 6.2% voting rights.