Simply Wall St.50d agoneutral
Alibaba (BABA) Launches $1.5 Billion Pupu Bid As Meituan Rivalry Heats UpAlibaba Group Holding (NYSE:BABA) has launched a $1.5b bid for grocery delivery firm Pupu. The offer puts Alibaba in direct competition with Meituan, which has been expanding in fresh produce and local commerce. The move follows Meituan's purchase of Dingdong Fresh and intensifies pressure on rivals including JD.com. Alibaba Group Holding, trading at $104.97, is leaning harder into local commerce at a time when its stock has seen mixed recent performance. The shares are down 6.7% over the...