Alibaba Group and its affiliate Ant Financial will invest nearly $1 billion in a joint venture that they hope can tap China's fast-growing local services market, focusing at first on food delivery.
Local services, also known a
China's e-commerce giant Alibaba Group Holding is planning a US IPO in the third quarter of this year, people familiar with the matter told Reuters, in what is the expected to be a more than $15 billion deal.
The Hangzhou, Chi
Yahoo chairman Roy Bostock and three other directors will step down as the company ploughs ahead with an internal overhaul, including discussions on dealing with its stakes in China's Alibaba Group and Yahoo Japan.
The corporation - once