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The Alibaba Group Holdings Ltd. headquarters stand illuminated at night ahead of the annual November 11 Singles’ Day online shopping event in Hangzhou, China, on Sunday, Nov. 10, 2019.
Qilai Shen | Bloomberg | Getty Images
Alibaba has fired the head of its fast-growing livestreaming business for allegedly engaging in nepotism and accepting gifts, according to an internal memo obtained by CNBC.
Zhao Yang led Taobao Live, the livestreaming product of Alibaba-owned e-commerce site Taobao. The memo says he allegedly helped a third-party livestreaming company secure a contract with Taobao Live.
The memo also alleges that Zhao arranged for his girlfriend to work at that same livestreaming agency,…
Source cnbc.com
