This website requires JavaScript.
Daily Briefing

Alibaba invests CNY 2 billion in


Oct 18, 2018 by The Passage Team
Alibaba invests CNY 2 billion in, a Chinese online spirits shop has secured an investment of CNY 2 billion from Alibaba, announced the company on October 18.

The investment makes Alibaba the second largest shareholder of, the largest domestic alcoholic e-commerce platform, taking up 29% of its shares.

Founded in 2006, the alcohol retailer is now valued around CNY 7 billion after its series C round of fundraising. The new fund will mainly cover the wine retailer’s expenditure and its working capital as it expands.

Source: Tencent Tech

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

Follow The Passage Team