A unit of China's Alibaba Group Holding Ltd has invested $150 million in Zomato, valuing the Indian food search and delivery service at more than $1 billion, the companies said on Thursday. Ant Financial Services Group, Alibaba's payment affiliate, is also buying $50 million worth of shares in secondary purchases as part of the transaction.
Zomato, which provides services across 24 countries, said it will use the funds to improve products and technology.
Submitted March 01, 2018 at 02:04AM by archish09 http://ift.tt/2t3KsDn
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