Ele.me reportedly eyeing Baidu’s food delivery business
Alibaba-backed Chinese food delivery company Ele.me may be looking to buy out its rival Baidu Waimai, according to local sources. A report published today (22 August) in the South China Morning Post (which is owned by Alibaba) said that Ele.me is reportedly poised to pay US$500m to buy out Baidu’s food delivery operations in cash and stock – but there has been no official comment from either company.
According to the South China Morning Post, the move would strengthen Ele.me in its competition with its key rival in China’s food delivery sector, Meituan-Dianping.
