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Benzinga
Benzinga
Business
Anusuya Lahiri

Alibaba Bleeds Billions As Delivery Price War Erases $100 Billion In Market Value

Alibaba BABA Meituan JDcom China Eleme Taobao
Alibaba

Alibaba Group Holding (NYSE:BABA) matched its record of 80 million on-demand deliveries on Saturday, intensifying its competition with Meituan (OTC:MPNGF) (OTC:MPNGY) and JD.com (NASDAQ:JD) in China’s high-stakes quick-delivery market.

The e-commerce firm has leaned heavily on giveaways and aggressive discounts to attract users, SCMP reported on Monday.

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