You are here

Alibaba's Koubei seen raising US$1 billion to fund expansion

Thursday, October 20, 2016 - 05:50

Alibaba is focusing on its own local services after selling its stake in Meituan Dianping, a company backed by Tencent Holdings Ltd.

Hong Kong

ALIBABA Group Holding Ltd's affiliate Koubei is seeking to raise US$1 billion of funding as it steps up its battle with China's other web giants for neighbourhood services, according to people familiar with the matter.

The company is seeking a valuation of US$8 billion in

Market voices on:

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom