Tag: Ele.me

Alibaba acquisition values meal-deliverer Ele.me at $9.5 bn

SHANGHAI, China (AFP) — Chinese e-commerce giant Alibaba said Monday it was acquiring full ownership of leading food-delivery firm Ele.me in a deal that values the Shanghai-based start-up at $9.5 billion. The deal is the latest salvo in the intensifying turf battle between tech heavyweights Alibaba and Tencent in the fast-growing Chinese markets for online food ordering and digital payments. Alibaba and its financial arm Ant already owned 43 percent of the app-based Ele.me and said […]