Scalper1 News
China e-commerce giant Alibaba Group (BABA) — already in the process of buying “China’s YouTube” Youku Tudou (YOKU) for $4 billion — is also reportedly closing in on a major investment with New York-based grocery ordering smartphone app Boxed Wholesale, according to media reports. Alibaba could invest as much as $80 million in privately held Boxed, putting the Chinese conglomerate in competition with Amazon.com (AMZN) on the U.S. e-commerce Scalper1 News
Scalper1 News