Alibaba Group Holding is planning to split its business into six main units covering e-commerce, media and the cloud, the company said on Tuesday, adding that each of the units will explore fundraising or initial public offerings.

Taobao Global, under Alibaba's Taobao Marketplace that enables overseas merchants to sell cross-border to Chinese consumers, on Wednesday (January 8) announced the launch of its latest global initiative "Project Magellan" in Bangkok.