A unit of China’s Alibaba Group Holding Ltd has invested $150 million in Zomato, valuing the Indian food search and delivery service at more than $1 billion, the companies said on Thursday.
Ant Financial Services Group, Alibaba’s payment affiliate, is also buying $50 million worth of shares in secondary purchases as part of the transaction, reports Reuters.
Zomato, which provides services across 24 countries, said it will use the funds to improve products and technology.
Strict monitoring can check price hike in Ramadan
Matarbari port to be ‘green, eco-friendly’
Curtain falls on int'l plastic fair
German shipping line launches new route from BD
Global suppliers queue up for exporting food grains
MCCI for not reducing subsidy on energy for at least one more year
IBBL Dhaka East & Central Zone hold agent banking conference
Syed M Omar Tayub promoted as DMD of Prime Bank
Air India to hire over 4,200 cabin crew, 900 pilots after record aircraft deal
© 2024 - All Rights with The Financial Express
