Alibaba merges food delivery units, raises $3b
Alibaba Group has merged Ele.me, a China-focused food delivery platform that it acquired earlier this year, with its local services platform Koubei. The combined platform has raised $3 billion from investors including Alibaba and SoftBank Group.
According to Alibaba’s quarterly financial results, the merger is aimed at creating a comprehensive local services offering that can leverage the power of Alibaba’s corporate ecosystem and business...
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