Alibaba Proposes to invest $500 Mn in Dailyhunt
The multinational e-commerce giant Alibaba is planning to buy a minority stake of upto $500 million in Dailyhunt (formerly known as Newshunt), an online news providing platform said two people close to the development reported livemint.
According to the duo, Alibaba has already offered a deal closing at $500 million to Dailyhunt but the news aggregator is looking for more investors, other than Alibaba.
“The talks are, however, not yet conclusive as Dailyhunt is also looking for other funding options apart from Alibaba,” said one of the person aware of the matter, on the request of staying anonymous.
The other person asking for the same quoted, “The deal will be a minority stake sale in which Alibaba is looking to acquire anywhere between 10% to 12%, depending upon the final negotiat...