Here’s what you should know today.

1. Financial comparison startup C88 makes second acquisition

It has acquired Otobro, an Indonesia-based site that helps people decide which car or motorcycle to buy and what types of financing are available. C88, headquartered in Singapore, also recently picked up funding from Kickstart Ventures and Socrates Capital, and it will use the funds to fuel its expansion into the Philippines.

How does C88 work? It has a “digital selling rights” agreement with its partners and requires technical integration with the partner’s system. It means C88 customers complete their purchase directly.

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2. Alibaba seeks $3 billion loan amid tech financing rush

Alibaba Group Holding Ltd is in talks with banks to raise $3 billion in new funding.

Alibaba is looking to raises the funds offshore via a bullet loan with a five-year maturity, with the aim of using the proceeds for general corporate purposes including refinancing.

The U.S.listed firm has been on something of a spending spree of late: its capital expenditure in the last three months of 2015 $752 million

The firm said in a filing to the U.S. Securities and Exchange Commission (SEC) that it had signed the syndicated loan deal with a group of eight lead arrangers. It added that the amount could increase if there was steep demand.

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3. Luxury automakers in China are getting smart about ecommerce

The latest report by digital intelligence firm L2, “China: Luxury Auto,” says that more than half of Chinese consumers are “willing to purchase a car online,” and car companies are beginning to listen.

“Chinese consumers are doing a lot of their auto research online before they ever go into the dealership, so the brands that are ahead technologically with their website features are the ones that will be ahead of the curve in terms of attracting those consumers,” Liz Flora, editor of Asia-Pacific research for L2, said.

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