Alibaba buys food delivery platform Ele.me

Alibaba announced today that it will acquire all outstanding shares that it does not already own in food delivery platform Ele.me. The transaction implies the enterprise value of Ele.me at US$9.5 billion. Alibaba and its financial arm Ant Financial are already the largest shareholder in the company with approximately 43% shares. Rumors of Alibaba’s acquisition … More Alibaba buys food delivery platform Ele.me

Chanel Teams Up With Farfetch. Will China’s Toplife Be Next?

Chanel has teamed up with Farfetch to develop new digital initiatives, the famously techno-cautious brand announced last week. Chanel has stopped short of selling its items on Farfetch, but the collaboration nevertheless brings the luxury brand much closer to one of Farfetch’s major shareholders, JD.com and its luxury e-commerce platform, Toplife. While other luxury brands … More Chanel Teams Up With Farfetch. Will China’s Toplife Be Next?

New Stability to Boost Tourism Firms’ Overseas Investments

With China’s 19th Party Congress over, JPMorgan Chase & Co.’s Asia Pacific vice chairman, Carl Chien, expects to see a return to the massive overseas acquisitions and investments from large Chinese corporations in tourism and air travel that marked 2016. Overseas deals by Chinese companies reached a total estimated worth of around $250 billion in … More New Stability to Boost Tourism Firms’ Overseas Investments

China’s growing appetite for Indonesia shouldn’t discourage local founders, say VCs

Some of China’s biggest internet firms left no doubt about their intention to be part of Southeast Asia’s slowly awakening digital economy. In the past months, companies like Didi Chuxing, Alibaba, Tencent, and JD have poured billions of dollars into funding and acquiring businesses in the region, especially in Indonesia. Read More