Will Alibaba’s planned investment in Zomato disrupt the food-tech space?

Online restaurant finder and food delivery platform Zomato may receive a whopping $200 million (Rs 1,283 crore) from Chinese e-tailing behemoth Alibaba, media reports said. Mint and The Economic Times, cited unnamed people saying that Zomato will be valued at $800 million-$1 billion for this round of funding by Alibaba’s payments arm Ant Financial Services Group, or Alipay. Email queries to Alibaba did not elicit any response, while a Zomato spokesperson told VCCircle that the company “does not comment on rumours and speculations”. Zomato has been in the market to raise…

Read More