Alibaba Group Holding offered $1.5 billion to acquire Pupu, a Chinese grocery delivery firm. This bid significantly exceeds a $600 million offer from Sun Art Retail.
The move targets increased market share in local commerce and fresh produce. Alibaba aims to intensify competition against rivals such as Meituan.
Pupu represents one of the last major independent online grocers in China. The acquisition aligns with Alibaba's search for new growth areas amid AI expansion and regulatory scrutiny from Chinese and U.S. authorities.