Alibaba will pay about US$3.7 billion in cash to buy the remaining stake in online video company Youku-Tudou. The transaction is expected to complete in the first quarter of 2016.
Youku-Tudou has led Series A funding in Dress+, an apparel visual search app. The startup was founded in January 2015. (via Sina Tech)
Faraday Future, an electric car startup founded by former Tesla employees, is backed by Chinese online video and smart device company Leshi, or LeTV. — LA Times
Alibaba Group is reportedly investing in American grocery delivery app Boxed. — Bloomberg