On May 30, Tencent, one of the most profitable Chinese internet giant, restructured its ecommerce business in its latest effort to catch up in the booming internet shopping market and compete against Alibaba, the de facto Chinese ecommerce tycoon. Along with the restructuring came internal reorganization and position transfer of executives.

Tencent replaced the current ecommerce division with the newly formed ecommerce LOB (line-of-business), which boasts multiple units including operation, platform, virtual services, life services and research and development unit. Head of Paipai, Tencent’s online auction site, has been transferred, while Wu Youguang, one of the co-founder and EVP of Tencent, heading the new ecommerce LOB, according to people familiar with the matter.

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Ben Jiang

Listener of startups, writer on tech. Maker of things, dreamer by choice.