Alibaba’s lifestyle unit Koubei snags 1.1B USD to accelerate local expansion

Alibaba has grown into a diversified conglomerate that encompasses several multi-billion dollar affiliates from Ant Financial and AliCloud to Cainiao Logistics. Yesterday, the e-commerce titan announced a 1.1 billion USD financing round for its local life commerce arm Koubei.

Investors include Silver Lake, CDH Investments, Yunfeng Capital, and Primavera Capital. Alibaba’s billionaire founder Jack Ma is one of the founders of Yunfeng Capital. It is interesting to note that the current round marks the first money from external investors.

Although the exact amount contributed by each investor wasn’t clear, Xie Fang, managing director of CDH Investment, confirmed with local media that this is their largest single investment in the TMT sector.

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