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