Alibaba’s investment in Ele.me confirmed
Alibaba has confirmed that it is investing significantly in the Chinese online food delivery business Ele.me. According to a notice posted on Alizila.com yesterday (13 Apil), Alibaba will put $900m into Ele.me while its affiliate Ant Financial will invest $350m.
Ele.me will continue to operate as an independent company, but Alibaba Executive Vice Chairman Joseph Tsai will join Ele.me’s board.
Founded in 2009, Ele.me is one of the leading players in China’s online food-delivery market.
This has been a busy week for Alibaba and its investment plans. On Tuesday (12 April), the group announced that it has acquired a controlling stake in Lazada, one of Southeast Asia’s leading e-commerce platforms.
