Thursday, April 14, 2016

Alibaba, Ant Financial bet US$1.25 billion on food delivery startup Ele.me

The news comes just months after Alibaba sealed a deal to sell their stake in competing on-demand service Meituan-Dianping After much speculation it’s been confirmed that Alibaba and their financial*affiliate, Ant Financial, will*together invest US$1.25 billion in Chinese on-demand food delivery app Ele.me. Alibaba will pitch in US$900 million while Ant Financial will add an...
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