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TOKYO/SEOUL (Reuters) - SoftBank’s $100 billion Vision Fund is poised to have a new number-one asset in its portfolio with the upcoming floatation of top South Korean e-tailer Coupang, furthering a turnaround that has seen the fund yo-yo from huge losses to record profit.
FILE PHOTO: SoftBank Corp s logo is pictured at a news conference in Tokyo, Japan, Feb. 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo
The $50 billion target valuation that Reuters reported this month would likely see the decade-old firm surpass recently listed U.S. food deliverer DoorDash Inc on a roster of assets that also includes stakes in TikTok parent ByteDance and ride-hailers Grab and Didi.
February 22, 2021
File photo of BigBasket online home delivery work - THE HINDU×
bigbasket, an online supermarket backed by Alibaba Group Holding Ltd, has served a cease and desist notice to Coimbatore-based start-up dailybasket.com asking the latter to close down its business and handover its domains. The notice alleges infringement of bigbasket’s trademark and brand.
“We (dailybasket.com) are a tiny online/offline grocery startup currently only serving in Coimbatore. We recently received a cease and desist letter from bigbasket to close down our operations and hand over our domains (ie, our business) to them because we have basket in our brand and we also sell groceries online,” dailybasket posted in a website bbisabully.com .
The battle to supply 1.4 billion people with fresh fruit and vegetables is taking China’s e-commerce companies into the country’s hinterlands, where they are attempting to revolutionize centuries-old agricultural practices to secure future supply for their burgeoning online grocery businesses.
Alibaba, Pinduoduo join fight against looming China food crisis straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.