Alibaba to acquire China’s Ele.me at $9.5b valuation
Alibaba Group has agreed to acquire all the remaining shares of Ele.me, a Chinese food delivery platform backed by several private equity investors, in a transaction that values the company at $9.5 billion.
Alibaba and its affiliate Ant Small and Micro Financial Services Group currently own approximately 43% of Ele.me, according to a statement. The companies invested $1.25 billion in Ele.me in April 2016....
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