Alibaba suffers rare 'down round' investment as Babytree's HK IPO prices low -sources
November 21, 2018 at 02:24 AM EST
China's Babytree Group , a parenting website operator, has priced its Hong Kong IPO at the bottom of a marketing range, people close to the deal said, reducing its valuation and implying a 'down round' for investor Alibaba Group Holding Ltd.