Deals
Alibaba’s Koubei Said to Seek $1 Billion to Fund Expansion
- Neighborhood service Koubei adding more users, cities
- Koubei said to seek valuation of $8 billion in fundraising
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Alibaba Group Holding Ltd.’s affiliate Koubei is seeking to raise $1 billion of funding as it steps up its battle with China’s other web giants for neighborhood services, according to people familiar with the matter.
The company is seeking a valuation of $8 billion in the fundraising, which will help it expand into more cities and add users, the people said, asking to not to be named because the matter is private.