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charel01
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Re: Alibaba
02/19/2021 | 12:25am EST
Chinese grocery app Dingdong Maicai, which counts Sequoia Capital among its investors, is considering launching an initial public offering in the US that could raise at least $300 million, Bloomberg News reported Thursday, citing people familiar with the matter.
Dingdong Maicai, which translates to "Dingdong buy vegetables," is competing with Tencent Holdings-backed (HKG:0700) MissFresh and platforms operated by Alibaba Pictures Group (HKG:1060) and JD.com (HKG:9618) in the saturated fresh food distribution market in China, the report said.
The market is projected to reach 1.27 trillion yuan ($197 billion) by 2025, Bloomberg said.
© MT Newswires 2021
Donnie_Azoff liked last!
Chinese grocery app Dingdong Maicai, which counts Sequoia Capital among its investors, is considering launching an initial public offering in the US that could raise at least $300 million, Bloomberg News reported Thursday, citing people familiar with the matter.
Dingdong Maicai, which translates to "Dingdong buy vegetables," is competing with Tencent Holdings-backed (HKG:0700) MissFresh and platforms operated by Alibaba Pictures Group (HKG:1060) and JD.com (HKG:9618) in the saturated fresh food distribution market in China, the report said.
The market is projected to reach 1.27 trillion yuan ($197 billion) by 2025, Bloomberg said.
© MT Newswires 2021
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