Groupon stock soars after Alibaba takes stake

Groupon shares jumped more than 40 percent on news that Chinese e-commerce giant Alibaba Holding Group bought a 5.6 percent stake in the Chicago-based deals site.

In a Securities and Exchange Commission report filed after hours Friday, Alibaba disclosed it owned nearly 33 million shares of Groupon.

The investment makes Alibaba Groupon's fourth-largest shareholder.

Read more from the Chicago Tribune.