Jack MaRuben Sprich/Reuters Alibaba stock jumped more than 10% after the company announced its largest overhaul ever. Alibaba will split into six independent entities, opening the door to new IPOs as well. The news comes one day after cofounder Jack Ma was seen back in China after roughly a year away. Shares of Alibaba Group Holding jumped 10% Tuesday following the company's announcement that it would begin its largest restructuring ever.The news comes just a day after cofounder Jack Ma was seen in China for the first time in nearly a year after Beijing's crackdown on top tech firms.Alibaba plans to divide its business into six independently operated entities: cloud, Chinese e-commerce, global e-commerce, digital mapping and food delivery, logistics, and media and entertainment.Each division will have its own chief executive and board of directors, and each will be able to raise funds and pursue initial public offerings when ready.