Rumor: Alibaba Invests Up to USD 150 Mln to Develop O2O Fresh Food Brand

Ebrun, 3/13/16

Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA) has reportedly invested up to USD 150 mln in its subsidiary Taobao (China) Software to develop its O2O fresh food e-commerce brand Hema Xiansheng, according to an investor in the fresh foods industry. It is unclear whether other investors are also involved in this financing. Hema Xiansheng and Alibaba said they were unable to comment on matter.

The same source said that Hema Xiansheng is still in the trial stage.

Hema Xiansheng currently operates in Shanghai through an offline store and a mobile app. The offline store is similar to a supermarket and stocks fresh food such as meat and fruit, which users can buy directly when visiting the store, and users within the delivery range can also place orders through the app to receive at-home delivery. Users must pay for their orders using Chinese third-party payment processor Alipay.

Keywords: Taobao Software Hema Xiansheng O2O food O2O m-commerce Taobao wireless fresh food Alibaba Group BABA funding mobile application

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