Alibaba to take full ownership of Ele.me
Alibaba has announced it will acquire all the outstanding shares it does not already own in the China-based online delivery platform Ele.me.
Alibaba and its affiliate Ant Small and Micro Financial Services Group Co., Ltd. currently own approximately 43% of the outstanding voting shares of Ele.me.
In a statement issued yesterday (2 April), Alibaba said that the transaction “implies the enterprise value of Ele.me at US$9.5bn”.
Daniel Zhang, CEO of Alibaba Group, said: “We are excited for Ele.me to become a part of the Alibaba ecosystem. Under the leadership of its founder and management team, Ele.me has achieved leading market share in China’s online food delivery and local services sector.
“Our shared belief that New Retail will create more value for customers and merchants has brought us together. Looking forward, Ele.me can leverage Alibaba’s infrastructure in commerce and find new synergies with Alibaba’s diverse businesses to add further momentum to the New Retail initiative.”
Alibaba added: “Ele.me’s fast local delivery service will build on its core expertise in food delivery to provide consumers with a wider range of products and services on-demand. This expansion of offerings will allow Ele.me to efficiently utilize its large delivery force that currently fulfills orders in cities across China.
“Ele.me also complements Koubei, Alibaba’s affiliated local services platform and provides extended synergies. By combining Ele.me’s online home delivery services with Koubei’s consumer acquisition and engagement capability for a range of restaurants and service establishments, Alibaba will be able to offer an integrated experience to consumers both online and offline.”
