The deal implies an enterprise valuation of USD 9.5 billion for Ele.me. Alibaba and Ant Small and Micro Financial Services Group already own 43% of the startup.
The Ele.me deal is part of the company’s foray into logistics and brick-and-mortar assets. Alibaba is taking over longtime delivery affiliate Cainiao and putting money into warehouses. It has also made investments in traditional retailers, including department store chain Intime Retail Group Co. and China’s important operator of Walmart-style hypermarkets.
Earlier in March 2018, Alibaba has increased its control of Lazada, its ecommerce marketplace in South East Asia it acquired control of in 2016, investing USD 2 billion into the business.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now