Former Alibaba CEO Daniel Zhang joins Firstred Capital as a managing partner for mergers and acquisitions.

Former Alibaba CEO Daniel Zhang has joined Firstred Capital, a lesser-known Chinese investment fund, as a managing partner. Zhang will work alongside the fund's founder, Liu Xiaodan, to focus on mergers and acquisitions. Zhang, who spent 16 years with Alibaba, oversaw the company through challenging times, including the pandemic, economic downturn, and internet sector crackdowns.

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