Alibaba bids $1.5 billion for China grocer Pupu in Meituan fight (opens original article in a new tab)

Alibaba is offering $1.5 billion to buy Chinese grocery delivery firm Pupu, escalating competition with Meituan and other tech giants in the online commerce sector.

• Alibaba offers $1.5 billion to acquire Pupu, a Chinese grocery delivery firm, in a bid to challenge Meituan's market share
• Sun Art Retail previously offered $600 million for Pupu, which is now surpassed by Alibaba's higher bid
• Meituan's recent $717 million acquisition of Dingdong Fresh is under antitrust review, highlighting increased competition in China's online commerce sector