BILI - Alibaba Hits Pause on Retail Platform to Reinvent Business Strategy and Dive into AI | Benzinga
Alibaba Group Holding Ltd (NYSE:BABA) is pausing the operations of Ling Shou Tong (LST), its nine-year-old sourcing platform designed to digitize the supply, inventory, and logistics for small convenience stores.
Effective March 30, the halt is attributed to “business adjustments” and will occur while LST continues to fulfill existing orders and provide after-sales service.
Initially celebrated as part of Alibaba’s new retail strategy, LST had successfully enrolled over 1.5 million stores by 2020, SCMP reports.
Also Read: Alibaba’s AliExpress Sees Order Surge with New 5-Day Delivery to the US, Expanding Global Reach
Despite the suspension, Alibaba clarified that LST is neither shutting down nor ...