BEIJING: Chinese e-commerce company Alibaba Group Holding Ltd is investing more than US$100mil (RM379.66mil) in Mei.com, a "flash sales" platform for luxury and fashion goods, according to a source with knowledge of the deal.
Alibaba had said earlier on Wednesday it would form a team within its Tmall business-to-consumer platform to help Mei.com expand its user base, product offerings, logistics and IT infrastructure, but did not disclose the size of its investment.
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