AI
Tuesday, February 16, 2016 1:52:09 PM
Groupon Inc. surged for a second straight trading day, this time after Alibaba Group Holding Ltd. bought a 5.6 percent stake in the online marketplace, rekindling investor interest as the company moves away from its roots as a daily deals provider.
The Chinese e-commerce company bought 33 million shares of Groupon, according to a regulatory filing Friday after the close of markets, making it the fourth-largest shareholder in the website that has lost about 80 percent of its value since going public in November 2011.
The Chinese e-commerce company bought 33 million shares of Groupon, according to a regulatory filing Friday after the close of markets, making it the fourth-largest shareholder in the website that has lost about 80 percent of its value since going public in November 2011.
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