Alibaba Invests in Online Parenting Portal Babytree
E-commerce giant Alibaba Group Holding Ltd. made a strategic investment in Babytree Inc. that values the latter at 14 billion yuan ($2.19 billion), the parenting website operator said Monday in a press release.
The amount of Alibaba’s investment and its shareholding in Babytree weren’t disclosed. Last week, online cosmetics seller Jumei International Holding Ltd. said it agreed to sell shares equivalent to about 4% of Babytree to an unnamed buyer for a total consideration of $86.5 million. That transaction valued Babytree at about $2.16 billion, according to a calculation by Caixin. The transaction left Jumei with about 3.33% of Babytree.
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