Alibaba Invests in Retail Data Firm

China’s Alibaba will pay US$486 million in a stake in Shiji Retail Information Technology Co. This investment is part of a “new retail” strategic cooperation to leverage big-data. Alibaba is investing heavily in its retail presence with more than US$10 billion of investments in brick-and-mortar stores. The latest deal comes closely after Alibaba subsidiary, Taobao (China) Software Co. Ltd., agreed to take a 15% stake in Beijing Shiji Information to help bolster its online travel business.