Report: Alibaba plans to invest $1.5 billion to compete for China's fresh food e-commerce "Miss Fresh Supermarket"

Alibaba is investing $1.5 billion to acquire the Chinese fresh food delivery platform "Freshippo," which is part of Alibaba's broader efforts to seize market share in the online business market from Meituan. Insiders revealed that the price offered by Alibaba is more than double the previous offer from Jiuxin Retail.