On December 3, Korean e-commerce platform ABLY said that its parent company ABLY Group has received 100 billion won (about 510 million yuan) investment from Alibaba. It is reported that through this investment, Alibaba will acquire 5% of ABLY Group. ABLY said that after the investment is completed, its corporate value will increase to 3 trillion won, making it a “unicorn” company. ABLY plans to continue to obtain 100 billion won investment from Silicon Valley and overseas sovereign wealth funds, starting with this investment from Alibaba.
