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…

The rest of this content is only accessible to Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.