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Alibaba's Ant Financial Services invests $150 million in Zomato

Ant Financial Services Group is also buying $50 million worth of shares in secondary purchases

Reuters  |  MUMBAI 

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.    

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First Published: Fri, March 02 2018. 00:50 IST
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