Alibaba had previously also invested in the China based food delivery startup Ele.me. Now Alibaba plans to buy the remaining stakes in the startup and thus acquiring it completely. Reportedly the company plans to complete the acquisition by buying roughly-60 percent of Ele.me that it currently doesn’t own from the other investors, which include search giant Baidu.
According to sources, Alibaba has already sent an investment proposal to Ele.me yesterday. If the acquisition happens, it will put Ele.me’s net worth at around $9.5 billion.
Also if Alibaba is successful in acquiring Ele.me completely, the Chinese startup will then form part of its ‘new retail’ push that’s designed to combine the best of e-commerce with offline retail.
The company has bought expensive stakes in physical retail stores and opened its own hybrid retail locations. Ele.me is a more obvious venture that connects restaurants with customers using the internet/its app.
Official statements and further details regarding the investment are yet to be disclosed from both the sides.
more recommended stories
“Facebook has played at times a negative role in the political discourse” : Facebook co-founderHughes.
Facebook Co Founder recently promoted his.
Danish startup Artland in aiming at creating social art marketplace app that focuses to connect galleries and professional buyers
Danish startup Artland has reached.
New updated Raspberry Pi 3 Model B+ sounds like a good upgrade for both personal and business projects
It is March 14, that means.
Volkswagen’s I.D. and I.D. Crozz likely both have a street date of around 2020
According to a new report, Volkswagen.
Y combinator-backed Playbook app lets you make plans online and then meet offline
The startup called Playbook has.
Tesla teams up with Home Depot to sell Tesla’s PowerWall and solar panels at 800 locations
Tesla recently joined hands with.
The Wave, a ring that controls sound, will ship next December
Wave is a ring that controls.
Tesla will be working with its first pilot customers to build electric charging centers
Reuters reports that, Tesla will be.
Tamagotchi – those attention-starved tiny creatures are back again
We had all but completely.
Snap is working on new versions of its Spectacles hardware
Snap, Inc. calls itself a “camera.