Alibaba Group Holding Limited has injected a RMB2 billion (US$290 million) series C round of investment to Chinese liquor e-commerce retailer 1919 Wines & Spirits Platform Technology Co., Ltd., according to a company announcement.
After this round, the company is valued at RMB7 billion(nearly US$1 billion), making it a unicorn in the Chinese alcoholic drinks retail industry.
Alibaba holds about 29% of its shares and has become the second largest shareholder of the company.
Established in 2010 and headquartered in Chengdu, the company as a wine and beverage online shopping platform was listed on the new third board in 2014.
It owns online retail portals, apps as well as offline stores and also collaborates with third-par...
This news article comes via China Money Network, who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of