Alibaba, Ant Financial in $1.25b food delivery bet

Alibaba and its affiliate are set to become the biggest shareholders in Ele.me, as the battle for control of China's O2O space intensifies.

Julie Zhu

April 13, 2016

Ele.me, a Chinese food delivery startup already backed by Tencent and JD.com, has raised a further $1.25 billion from Alibaba and Ant Financial, as competition for control of the country’s fast-growing online-to-offline business sector intensifies.

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