Alibaba invests $486mn in Shiji Retail Information Tech Co

Alibaba Group Holding is investing $486mn for a stake in Shiji Retail Information Technology Co, it has been reported.

Alibaba will take a 38% in Shiji, which is described as a big data firm which focusses on the retail and hospitality sector.

 

See also:

Tencent Holdings agrees investment in Carrefour with Yonghui

Alibaba partners with Auchan

Alibaba leads BigBasket funding round

 

This is part of Alibaba’s investment into its online-to-offline offering, which Reuters estimated to total around $10bn in brick-and-mortar business to date.

The tech giant’s subsidiary Alibaba Investment will take part in the deal.

This is not the first investment by Alibaba in the firm, with its subsidiary Taobao (China) Software Co having invested $446.3mn in a 15% stake in Shiji in 2014.

The investment marks another step in the online to offline war between Chines technology mainstays Alibaba and Tencent. Other recent investments by Alibaba have included Indian online grocer BigBasket, as well as a partnership with French retailer Auchan. It has also reportedly been in talks with US grocery company Kroger.

Meanwhile, Tencent has invested in French grocer Carrefour.

Share

Featured Articles

Welcome to the New Age of the CISO

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Making the UAE the world’s strongest digital fortress

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on visionary plans to build the world’s most secure digital society

World Mental Health Day – 10 apps to improve wellbeing

Employers should recognise the growing use of apps to help support mental health – here are 10 to consider on World Mental Health Day

Exec interview: Brook Sims, COO, MAC Diversity Recruiters

Leadership & Strategy

Best new books that will make you a better leader

Leadership & Strategy

5 Mins With: Jeff Li, founder and CEO of Shoplazza

Leadership & Strategy