China's Alibaba Group recently purchased 33 million Groupon Inc. shares, making it the fourth largest shareholder of the U.S. company.
Groupon has been listed for over four years and its market value shrank by about 86% during that time.
A regulatory document showed that by December 31, 2015, Alibaba Group held a 5.6% stake in Groupon. A spokesperson of Alibaba did not comment on the regulatory document to local media. Groupon's spokesperson Bill Roberts said that they were not aware of the shareholding status of Alibaba until the release of this regulatory document. Meanwhile, Roberts said Alibaba is known as a long-term holder. They are glad that Alibaba shares the same view about the development and execution of the business as Groupon.
In addition, Alibaba reportedly made additional investments in online retailer Jet.com Inc., virtual reality service provider Magic Leap Inc., and ride-hailing platform Lyft Inc.
Be the first to comment on "Alibaba Becomes Fourth Largest Shareholder Of Groupon"