Ele.me raises $1.25bn
BEIJING: Chinese online food-delivery service company Ele.me has raised $1.25 billion from Alibaba Group Holding and its arm, Ant Financial Services Group, according to an Ele.me statement on its official Weibo microblog on Wednesday. Ele.me said Alibaba invested $900 million while Ant Financial invested $350 million. It didn’t provide any further details of the transaction. Ele.me, which roughly translates as ‘Hungry Now?’, is part of a trend in China for what is known as online-to-offline (O2O) services. These include taxi hailing and restaurant review apps that link smartphone users with offline businesses. Alibaba did not have an immediate comment when contacted.