Alibaba (BABA) Eyes Russia as Next International Opportunity
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Alibaba (BABA), Ant Financial Services Enter ~$1B Joint Venture for Local Services in China
June 23, 2015 6:27 AM EDTAlibaba (NYSE: BABA) and Ant Financial Services Group (Ant Financial) announced today both parties will each invest RMB3 billion ($483.3 million) and resources to set up a joint venture aimed at capturing opportunities within Chinas local services market, with an initial focus on the food and beverage segment.
The joint venture, Koubei, will integrate the convenient aspects of mobile commerce and big data to transform and upgrade Chinas local services sector, offering consumers enhanced dining and shopping experiences. Alibabas food ordering and delivery... More
