SoftBank was among the investors in a round for Alibaba's recently merged local services platforms Ele.me and Koubei that valued it at $30bn.
Ele.me and Koubei, the recently merged local services subsidiaries of e-commerce group Alibaba, have raised $4bn at a $30bn valuation from investors including telecommunications firm SoftBank, Reuters has reported.
SoftBank provided its share of the funding through its Vision Fund, joining Alibaba and its financial services affiliate Ant Financial as well as private equity group Primavera Capital, people with knowledge of the situation told Reuters. The round is expected to formally close later this month.
The capital was provided to…
