Alibaba And Subsidiary Ant Financial Plow Almost $1B Into A New Online-To-Offline Joint Venture

Alibaba NYSE Flags 2 Online-to-offline (O2O) commerce and providing ultra-speedy local deliveries are two of Alibaba’s main growth targets. Now the e-commerce giant is significantly increasing its commitment to both verticals. Alibaba and subsidiary Ant Financial announced today that they will each put RMB 3 billion (about $483.3 million) into a joint venture called Koubei. Read More

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