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Alibaba set to invest USD 1 bln in food startup

Friday 26 May 2017 14:28 CET | News

Alibaba has announced plans to lead an investment round of at least USD 1 billion in Ele.me, a Chinese food delivery service.

The financing will reportedly value Ele.me at USD 5.5 billion to USD 6 billion, people familiar with the matter say.

Alibaba is already the majority shareholder of Ele.me, which it uses to complement a separate service called Koubei that provides restaurant bookings and spa treatments.


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Keywords: Alibaba, Ele.me, China, Financial Ant, online payments, mobile payments
Categories: Payments & Commerce
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Countries: World
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