Jack Ma eyes acquisitions to weave his magic again

Jack Ma, right, Chairman of Alibaba Group, and Xu Jiayin, Chairman of Evergrande Group, shake hands at the listing ceremony for shares of Guangzhou Evergrande Taobao Football Club in Beijing, November 6, 2015. [Photo/IC]

Ma, who remains an iconic figure in the world's second-largest economy and a role model for many would-be entrepreneurs, has embarked on a courageous diversification strategy to offset slowing sales growth.

Since its IPO, it has been on something of a spending spree. It has acquired many businesses away from its Internet core, moving into finance, entertainment, big data, logistics and healthcare.

It even bought a 50 percent stake in the Chinese football club Guangzhou Evergrande in 2014.

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