- Alibaba may invest $3 billion in Grab to use its delivery capabilities and variety of services to bolster its business in Southeast Asia.
- And Grab may be interested in an investment from Alibaba due to its financial woes during the pandemic.
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The Chinese e-tailer is in talks to invest $3 billion in the Southeast Asian ride-hailing firm, which was valued at approximately $14 billion in March 2019, Bloomberg reports. If the firms come to an agreement, it would expand on Alibaba’s existing interest in Southeast Asia (SEA): It has already invested $4 billion in Lazada, which is now its ecommerce arm in the region.
Working closely with Grab would enable Alibaba to