Chinese e-commerce giant Alibaba is in talks to invest USD 3 billion in Southeast Asian ride-hailing firm Grab, which was valued at USD 14 billion in March 2019, Bloomberg reports.
If the firms come to an agreement, it would expand on Alibaba's existing interest in Southeast Asia: It has already invested USD 4 billion in Lazada, which is now its ecommerce arm in the region.
Working closely with Grab would enable Alibaba to strengthen its ecommerce operations in SEA and build a broader payments and commerce ecosystem, like Alipay and WeChat Pay have in China.
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