Meicai: Chinese rocket scientist's veggie-selling app may be worth US$7 billion

Meicai, a Chinese start-up that helps farmers sell vegetables to restaurants, raised at least US$600 million in a funding round led by Tiger Global Management and Hillhouse Capital, people familiar with the matter said. The money will be used to expand as the start-up competes for a bigger share of China's fragmented food sourcing market, the people said, asking not to be identified as the details are private. According to one person familiar with the matter, the company raised about $800...