Alibaba Secretly Invested in Amazon Challenger Jet.com

Chinese e-commerce powerhouse Alibaba Group recently invested in Jet.com, a soon-to-launch online retailer that hopes to challenge Amazon.com, multiple sources confirmed to Forbes. Alibaba's previously undisclosed investment came as part of Jet's $140 million round in February, which was led by Bain Capital Ventures and joined by the likes of Accel Partners, New Enterprise Associates and others. The Montclair, N.J.-based company also raised about $5 million last month in a filing disclosed with the Securities and Exchange Commission.