Alibaba to buy remaining stakes in China-based food delivery startup Ele.me

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.

 

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