 "Alibaba's Ant Financial Services invests $150 million in Zomato")
A unit of China's Alibaba Group Holding Ltd has invested $150 million in Zomato, valuing the Indian food search and delivery service at more than $1 billion, the companies said on Thursday.
Ant Financial Services Group, Alibaba's payment affiliate, is also buying $50 million worth of shares in secondary purchases as part of the transaction.
Zomato, which provides services across 24 countries, said it will use the funds to improve products and technology.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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