Alibaba to pay $1.25b for controlling stake in Ele.me, deal values Chinese food startup at $4.5b

Alibaba to pay $1.25b for controlling stake in Ele.me, deal values Chinese food startup at $4.5b

The logo of Alibaba Group is seen inside the company's headquarters in Hangzhou, Zhejiang province early November 11, 2014. REUTERS/Aly Song

China’s Ele.me, a food-delivery startup backed by Tencent Holdings Ltd., plans to close a funding round of at least $1.25 billion by as early as mid-February in a deal led by competitor Alibaba Group Holding Ltd., according to people with direct knowledge of the matter.

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