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Alibaba Group Business China month Tech Top News 

China bike-sharing firm Ofo says raises over $700 million, led by Alibaba, others

July 6, 2017 HONG KONG (Reuters) – Chinese bike-sharing start-up Ofo said on Thursday it has raised more than $700 million in its latest funding round that was led by Alibaba Group and two others, in the largest such fund-raising in the business that has drawn keen investor interest. Ofo said in a statement that besides Alibaba, the series E funding was led by Hony Capital and CITIC Private Equity, with additional investment from current investors Didi Chuxing and DST Global. It declined to comment on its valuation. Dai Wei,…

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Alibaba Group Tech Top News YNAP 

Yoox Net-a-Porter shares jump as traders cite Alibaba interest

June 26, 2017 MILAN (Reuters) – Shares in Italian online fashion retailer Yoox Net-A-Porter closed up almost 9 percent on Monday as traders cited reported interest from Chinese e-commerce giant Alibaba Group. “There are reports Alibaba is interested in buying a stake in Yoox,” one of the traders said. A report on Chinese fashion website said the Chinese conglomerate had contacted Yoox Net-a-Porter over capital cooperation, adding it did not rule out buying shares. But a source familiar with the matter later denied the report. “It’s not true,” the…

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