Alibaba's supermarket chain Freshippo seeks funds at much lower valuation of $6b

Alibaba's supermarket chain Freshippo seeks funds at much lower valuation of $6b

REUTERS/Aly Song

Alibaba’s supermarket chain Freshippo is seeking to raise funds at a valuation of about $6 billion, much lower than a hoped-for valuation of up to $10 billion earlier this year, three people familiar with the matter told Reuters.