Jonathan Lu, CEO of Alibaba, the China-based eCommerce giant, said his company is preparing to shift its operations as more of its domestic users switch to smartphones, The Wall Street Journal reported.
He told the media outlet that this migration is essential, as eCommerce, entertainment and social media are converging in the mobile age. Lu acknowledged his company’s need to innovate while hinting that further acquisitions could be on the horizon.
The company faces increasing competition from online outlets like 360buy.com and brick-and-mortar businesses that are moving online.
To read the Journal’s full interview with Lu, click here.