Alibaba to fully acquire $9.5b food delivery app Ele.me

A courier of Ele.me food delivery smartphone application travels on his electric bicycle along a street in Shanghai, China, October 9, 2015. REUTERS

Chinese e-commerce giant Alibaba Group Holding Ltd said on Monday it would buy the remaining shares of Ele.me, a major platform in China’s food delivery market, as it competes with Tencent Holdings Ltd services for offline consumers.

Continue reading this story with a subscription to DealStreetAsia.

Subscribe

Contact us for corporate subscriptions at subs@dealstreetasia.com.