Chinese e-commerce giant Alibaba Group has proposed privatizing business-to-business platform as the site faces slower revenue growth brought on by a shift to focus on long-term gains.

The proposal, announced on Tuesday, will free from the market pressures of being listed on the Hong Kong Stock Exchange, said company CFO Maggie Wu during a conference call., which connects buyers and sellers to source goods, had previously focused on rapidly increasing the site's customers to maximize revenues. But last year, shifted its strategy to improve the buying experience on the site.

Although said its strategy will pay off over the long-term, the company will face slower growth in the near term as it adds fewer paying customers over the period and makes additional investments in its business, Wu said.

The announcements comes after reports that Yahoo was in negotiations to sell off its share of Alibaba Group., however, said the proposal to privatize was unrelated to any talks with Yahoo.

The proposal from Alibaba Group, which owns 73 percent of, would give minority shareholders Hk$13.50 (US$1.74) per share in cash. had suspended trading on the Hong Kong Stock Exchange earlier this month.'s shift in strategy came after an internal investigation found more than 2,000 suppliers on the site had engaged in scams against overseas buyers. The investigation concluded that had been too focused on short-term financial gains. moved to quickly restore confidence in the site, paying back customers of the fraud and appointing a new CEO for the company.