China's Alibaba is in talks to buy a minority stake of between 10% and 12% in Indian news aggregator and e-bookstore Dailyhunt, Indian media has reported. The company is backed by Chinese new-recommendation app Toutiao. In an interview with the Economic Times on Monday, CEO Sachin Bansal said that he was looking at buying up 20% or 30% of Dailyhunt for around $1 billion.
China's Alibaba is in talks to buy a minority stake of between 10% and 12% in Indian news aggregator and e-bookstore Dailyhunt, Indian media has reported. The company is backed by Chinese new-recommendation app Toutiao. Alibaba reportedly values Dailyhunt at about $500m.