The U.S. fast food company had announced in March it was reorganizing its Asian operations by bringing in partners who would own the restaurants within a franchise business.
The deal will see the U.S. grocery giant swap its Yihaodian platform for a 5 percent stake in JD.com Inc., worth about $1.5 billion by the firm's latest market value.
Start Up Your Day
Plus: Taco Bell is giving away free Doritos Locos tacos today as promised during the NBA Finals.
Start Up Your Day
Plus: Shanghai Disneyland opened its doors today.
The funding round valued the company at more than $25 billion.
Echoing that growth, Chairman Jack Ma said Alibaba expects to have 2 billion consumers on its books by 2036, up from 423 million active buyers in 2016.
The latest fundraising comes with China's top ride-hailing company locked in a struggle to fend off its global rival's march into China.
Internet of Things
Hong Kong's location and economic freedoms makes it an ideal place spot to foster growth and penetrate the Chinese market.
Far Out Tech
It's not as frightening as it looks at first glance.
'China has set a clear precedent with nearly every other tech company that operating in the country comes with certain strings attached,' analyst says.
The ecommerce company has been dogged for years by accusations that its online shopping platforms were conduits for counterfeiters and critics say it has not done nearly enough to stop the problem.
Radicals & Visionaries
China's quest is global dominance of the tech industry. It could overtake Silicon Valley.
The U.S.-based International Anti-Counterfeiting Coalition announced on Friday that it would suspend Alibaba's membership, after several IACC member companies quit the group in protest at Alibaba's inclusion.
Cook has planned to meet high-level government officials, a source familiar with the matter said earlier this month.
China is a communist nation of close to 1.4 billion people where there has been explosive new growth and business opportunities alongside regimented government control over its media and the civil liberties of its citizens.
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© 2016 Entrepreneur Media, Inc.