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Alibaba’s Grocery Chain Freshippo Considers Funding at $10 Billion Value

  • Firm works with adviser on invitation-only investor list
  • Fundraising is among the first since Alibaba’s antitrust fine
A Freshippo store in Shanghai in December 2021. 
A Freshippo store in Shanghai in December 2021. Photographer: Wang Gang/Future Publishing/Getty Images
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Alibaba Group Holding Ltd. is considering raising funds for its high-tech grocery chain at a proposed valuation of $10 billion, according to people familiar with the matter.

Freshippo, known as Hema in Chinese, is working with an adviser on an exclusive list of potential strategic and financial investors that will be invited to join the funding round, which is likely to kick off next month, the people said, asked not to be named discussing a private matter.