Specializing in e-Commerce, the Chinese company Alibaba Group acquired 33 million shares of Groupon, writes Bloomberg with reference to published statements reflecting the 31 December 2015. The acquisition has made Alibaba the fourth-largest shareholder of the site with a share of 5.6%. In addition, the company bought shares in the online service retail Jet.com and the service of the order of LYFT cars.
The Agency notes that Groupon shares plunged 86% in the last four years, ever since the company went public. The message about the change in the composition of shareholders were received within a few hours after the beginning of active buying up Groupon shares on the stock exchange (on 12 February the company’s shares have climbed 29%, trading closed at $2,89 per share).
According to a January report in the fourth quarter of 2015 net profit of Alibaba Group increased by 109%, to $1.92 billion primarily due to growth in their native Chinese market.