Alibaba Selling $1b O2O Stake
World Economy

Alibaba Selling $1b O2O Stake

Chinese e-commerce giant Alibaba is reportedly in talks to sell its stake in online booking and discount platform Meituan-Dianping for about $1 billion, AsiaFirst reported. According to a Financial Times report, Alibaba is divesting its stake in the online-to-offline website, which is likened to Groupon of the US, as it seeks to switch attention to its Koubei platform. Alibaba declined to comment on the news. One source interviewed by the Financial Times said Koubei, which was launched by Alibaba last June, is a strategic direction for the e-commerce giant while Meituan is a financial investment.

Short URL : http://goo.gl/JLc5TN
  1. http://goo.gl/gzmM3s
  • http://goo.gl/k6l2MD
  • http://goo.gl/0N91kQ
  • http://goo.gl/wVKxQd
  • http://goo.gl/cc7kAx

You can also read ...

Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
The warnings come amid a period of financial uncertainty for the world.
US officials who helped the country survive the 2008 financial...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...