China's Alibaba builds presence in ride-hailing amid Didi’s regulatory woes

China's Alibaba builds presence in ride-hailing amid Didi’s regulatory woes

People walk by the Alibaba Group logo. Photo: Bloomberg

E-commerce giant Alibaba Group Holding Ltd. has agreed to buy a 10% stake in a Shanghai-based state-owned online ride-hailing service, joining the flood of investment into the sector since market leader Didi Global Inc. had 25 apps removed from domestic app stores earlier this year amid a probe into violations of data privacy and security.