Home Business News Alibaba Is Acquiring Ele.me For $9.5 Billion

Alibaba Is Acquiring Ele.me For $9.5 Billion

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Alibaba Group Holding Ltd. Is going to acquire the entire setup of Ele.me for $9.5 billion. Alibaba and its affiliate already own the 43 percent of Ele.me which means “hungry yet?”. The company provides food across the country through its large number of delivery riders. Alibaba is focusing on its expansion in e-commerce as it is facing stiff competition from its Asian competitors.

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