Sohu IT, 1/10/14
An industry source has revealed that Chinese e-commerce conglomerate Alibaba Group has invested USD 15 mln in Byecity Technology, operator of Chinese overseas-travel focused website Byecity.com. According to the source, the investment is nearing completion.
Byecity completed first-round funding in 2008 from JAFCO Asia and Investor Growth Capital, among others.
Editor's Note: For more background on this topic, please see "Byecity Lands USD 10 mln First Round" MD 3/31/08 issue.