08 July, 2015

Alibaba Puts Another $207M Into SingPost And $100M+ In Flash Sales Site Mei.com

Chinese stocks continue to tumble, Alibaba, as one of it biggest tech companies, is spreading its bets and upping its investments in companies that focus on cross-border commerce and making its e-commerce operations more efficient.

Alibaba today announced that it has made a strategic investment into Mei.com, a flash sales site; and it has increased its stake in Singapore Post Limited (SingPost). Alibaba will put $206.85 million into SingPost and a subsidiary to increase its stake to 14.51 percent and form a new JV.
Alibaba has not disclosed the value of the stake in Mei.com but it have been confirmed from a reliable sources close to the deal that it is over $100 million.

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