Alibaba has purchased a 10% stake in Babytree that valued the e-commerce platform at $2.2bn.
China-based online parenting services and e-commerce platform Babytree attracted an undisclosed amount of funding from e-commerce group Alibaba yesterday.
Alibaba reportedly obtained a 10% stake in the business, which is now valued at $2.2bn.
Last week, beauty products e-commerce company Jumei International announced that it had sold a 4% stake in Babytree to a third-party investor for approximately $86.5m, reducing its shareholding to roughly 3.3%. It is unclear whether Alibaba was that unnamed investor.
Founded in 2007, Babytree operates a…
