BABA News & Events

Alibaba (BABA) is offering $1.5B for Chinese grocery delivery company Pupu, more than double a competing $600M bid from Sun Art Retail, signaling a competitive acquisition push in the quick-commerce and grocery delivery space, Bloomberg's Cathy Chan reports, citing people familiar with the matter. Alibaba's bid for Pupu comes shortly after Meituan's (MPNGF) $717M acquisition of Dingdong Fresh, the report notes.

Alibaba replaced DingTalk CEO Chen Hang with Chen Yusen after an internal debate over the enterprise communication app's role in Alibaba's AI strategy, Bloomberg reports, citing people familiar with the matter.

Ant Groups' international business is looking to raise $1B to accelerate growth, Dong Cao, Pei Li, and Lulu Yilun Chen of Bloomberg reports, citing people familiar with the matter. The company has been sounding interest from prospective investors, such as shareholders General Atlantic and Silver Lake, the sources added.