Consumer

The Rocket Internet-owned Global Online Takeaway Group sold some $148m in shares, as the online food ordering platform floated at the top of its range.

The beverages group had provided $250,000 each to 11 companies through its now closed Founders Program, and will now focus on its Bridge scheme.

Alibaba has invested $1bn to increase its share e-commerce marketplace Lazada to 83%, with Rocket Internet and Tesco among the exiting shareholders.

The media and e-commerce group invested an additional $71m in Flipkart in April 2017 as part of a $1.4bn funding round also backed by Tencent, eBay and Microsoft.

The Comcast-backed company, which links a visual social media platform with goods and services, is valued at $4bn and is potentially pointing a new way forward for mobile commerce.

The corporates have launched a $30m joint venture that will invest in catering companies with growth potential with which they can partner.

The e-commerce firm will help luxury fashion marketplace Farfetch expand in China as part of a strategic partnership deal that took Farfetch's total funding to about $700m.