- Sources say Alibaba (NYSE:BABA) has agreed to invest $1.25B in Chinese online food delivery service Ele.me (roughly: "Hungry, now?"), for which it will get a 27.7% stake (effective valuation $4.6B).
- Alibaba will become Ele.me's biggest shareholder.
- Prior investors in Ele.me include Tencent (OTCPK:TCEHY, TCTZD), JD.com (NASDAQ:JD), and Sequoia.
- Previously: WSJ: Alibaba wants to sell ~$1B stake in Chinese local services giant (updated) (Nov. 23)
- Related: China November Retail Sales: E-Commerce Leading The Way (Dec. 20)
- Related: JD.com: Enjoy The Good Time While It Lasts (Nov. 22)
Alibaba is investing $1.25B in a Chinese food-delivery service
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