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Alibaba Group Holding聽has reportedly decided to delay the potential initial public offering IPO of its grocery chain,聽Freshippo, in Hong Kong due to weak sentiment for consumer stocks.The company had initially targeted a valuation of $6 billion to $10 billion, but after discussions with potential investors, Alibaba concluded that Freshippo could achieve a valuation of around $4 billion in the listing, Bloomberg聽reported聽Friday Sept. 8 , citing unnamed sources.Alibaba did not immediately reply to PYMNTS request for comment.The capital management committee of Alibaba, which is overseeing the breakup of the company, has decided to wait for a more favorable market before moving forward with the stanley canada Freshippo IPO, accor stanley cup ding to the report. Instead, the company will prioritize listings of other units.This delay could potentially mean that Alibaba will miss its target to float Freshippo by May 2024, the repor stanley cup t said. However, there is still a possibility for Freshippo to proceed with its listing plan once the retail environment and economy in China improve, boosting investor sentiment in the sector.Freshippo offers a supermarket experience that includes both a dine-in restaurant and 30-minute home delivery, per the report. The company has gained popularity for its high-tech automatic order picking system and the use of robots to deliver food to dine-in customers. Its grocery brand Hema Xiansheng turned profitable in 2022, according to the report.The company was expected to be one of th Dvsu WePay: Contextual Is The Future Of Commerce
The unicorn is a fickle animal. The unicorn can be a shy animal and may shy away from public 鈥?investors, that is.Actifio, which focuses on copy data virtualization, has walked away from pr stanley france evious plans to go public. The companys CEO told the financial trade press that he would take a cue from Uber, which has remained private yet been valued at huge sums. Neither customers nor investors are demanding the firm go public, said the executive.Likewise, actress Jessica Albas startup, The Honest Co., is looking to go public, eventually and slowly. Investors at Lightspeed Venture Partners, a company backer, have been vocal about not being in a rush to tap into an IPO.In a manag stanley us ement shift, Matthias Knecht, former head of Funding Circles European operations, has left the company in the wake of what the German financial press termed a dispute with leadership of the firm based in the U.K. The firm itself said that Brexit did not play a role in the resignation.In one bit of news that presages possible merger and acquisition activity, hyperconverged tech firm Nutanix is rumored to be interested in buying PernixData, a hypervisor firm. The firms have released no comment thus far.Zenefits聽鈥?the saga continues. In the wake of a layoff mandate that saw a sizable percentage of staff depart as the company looks to rightsize its strategy, the firm voluntarily cut its valuation in half.Talk about a down round. As reported by The Wall Street Journal, the firm ironed out a deal with its big stanley us gest inv
Alibaba Group Holding聽has reportedly decided to delay the potential initial public offering IPO of its grocery chain,聽Freshippo, in Hong Kong due to weak sentiment for consumer stocks.The company had initially targeted a valuation of $6 billion to $10 billion, but after discussions with potential investors, Alibaba concluded that Freshippo could achieve a valuation of around $4 billion in the listing, Bloomberg聽reported聽Friday Sept. 8 , citing unnamed sources.Alibaba did not immediately reply to PYMNTS request for comment.The capital management committee of Alibaba, which is overseeing the breakup of the company, has decided to wait for a more favorable market before moving forward with the stanley canada Freshippo IPO, accor stanley cup ding to the report. Instead, the company will prioritize listings of other units.This delay could potentially mean that Alibaba will miss its target to float Freshippo by May 2024, the repor stanley cup t said. However, there is still a possibility for Freshippo to proceed with its listing plan once the retail environment and economy in China improve, boosting investor sentiment in the sector.Freshippo offers a supermarket experience that includes both a dine-in restaurant and 30-minute home delivery, per the report. The company has gained popularity for its high-tech automatic order picking system and the use of robots to deliver food to dine-in customers. Its grocery brand Hema Xiansheng turned profitable in 2022, according to the report.The company was expected to be one of th Dvsu WePay: Contextual Is The Future Of Commerce
The unicorn is a fickle animal. The unicorn can be a shy animal and may shy away from public 鈥?investors, that is.Actifio, which focuses on copy data virtualization, has walked away from pr stanley france evious plans to go public. The companys CEO told the financial trade press that he would take a cue from Uber, which has remained private yet been valued at huge sums. Neither customers nor investors are demanding the firm go public, said the executive.Likewise, actress Jessica Albas startup, The Honest Co., is looking to go public, eventually and slowly. Investors at Lightspeed Venture Partners, a company backer, have been vocal about not being in a rush to tap into an IPO.In a manag stanley us ement shift, Matthias Knecht, former head of Funding Circles European operations, has left the company in the wake of what the German financial press termed a dispute with leadership of the firm based in the U.K. The firm itself said that Brexit did not play a role in the resignation.In one bit of news that presages possible merger and acquisition activity, hyperconverged tech firm Nutanix is rumored to be interested in buying PernixData, a hypervisor firm. The firms have released no comment thus far.Zenefits聽鈥?the saga continues. In the wake of a layoff mandate that saw a sizable percentage of staff depart as the company looks to rightsize its strategy, the firm voluntarily cut its valuation in half.Talk about a down round. As reported by The Wall Street Journal, the firm ironed out a deal with its big stanley us gest inv