Alibaba Offers $1.5 Billion for Pupu as China Grocery Delivery Battle Intensifies
Updated
Updated · Bloomberg · Jun 12
Alibaba Offers $1.5 Billion for Pupu as China Grocery Delivery Battle Intensifies
2 articles · Updated · Bloomberg · Jun 12
Summary
$1.5 billion is Alibaba's offer for grocery delivery firm Pupu, a bid that has triggered a sale contest and marks a fresh push into China's online grocery market.
The proposal tops Sun Art Retail's earlier $600 million bid by more than double, according to people familiar with the confidential process.
Alibaba is using the potential acquisition to claw back market share from Meituan, which has been expanding its grip on online commerce and delivery.
Meituan announced a $717 million deal for Dingdong Fresh just months ago after fending off rival bidders, underscoring how takeover fights are escalating across the sector.