Bulk food delivery service Boxed Wholesale is in talks with Alibaba to secure approximately $80m.
US-based bulk grocery delivery service Boxed Wholesale may secure around $80m from e-commerce company Alibaba, China Money Network reported today.
Founded in 2013, Boxed Wholesale enables consumers to purchase groceries at a discount through a dedicated smartphone app by selling produce in bulk. The company operates its own warehouse rather than partnering other retailers for stock.
Alibaba is reportedly looking to invest as part of a wider strategy to increase its foothold outside China.
In January 2015, Boxed received $25m…
