Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Companies

    Alibaba leads $1b funding for Ele.me

    Updated: 2017-05-27 09:07
    Share
    Share - WeChat

    HONG KONG-Alibaba Group Holding Ltd plans to lead an investment round of at least $1 billion in Ele.me, one of the largest players in China's food-delivery service sector.

    People familiar with the deal said that funding from Alibaba and its financial arm, Ant Financial Services Group, will value Ele.me at between $5.5 billion and $6 billion.

    The move will help Ele.me compete with a rival service backed by Tencent Holdings Ltd, people familiar with the deal said, requesting not to be named because the matter is private.

    Once completed, the agreement would mark the country's second-largest startup fundraising effort so far this year.

    It would be surpassed only by ride-sharing giant Didi Chuxing's $5.5 billion round of fundraising.

    Alibaba is vying for supremacy with the Tencent-backed startup, Meituan Dianping, in a local services industry primed for growth.

    This has come about as people turn to their smartphones or the web to order food, schedule beauty treatments and hire domestic helpers.

    Sales of such services are expected to reach 7.28 trillion yuan ($1.1 trillion) this year.

    Startup investments surged 40 percent to $6 billion in the first quarter, CB Insights, a research company, estimated.

    While food-delivery businesses around the world have struggled to make profits, China's two largest internet companies see on-demand services as a way to promote their lucrative online payments services.

    Growth in domestic food and restaurant transactions has also outstripped many other retail segments in the world's second-largest economy.

    Alibaba is already the biggest shareholder of Ele.me, which it uses to complement a separate service called Koubei that provides restaurant bookings and spa treatments.

    Now, Tencent intends to ramp up investment to catch up with its rival.

    It holds only a minor stake in Ele.me after a $1.25 billion fundraising from Alibaba and Ant Financial in April 2016 diluted its holdings.

    The company, valued at about $4.5 billion at the time, had discussed a merger with Meituan, one of Tencent's largest investments in the market.

    But talks fell apart, people familiar with the matter said.

    Tencent is now "putting up quite a big initiative around the restaurant vertical" to propel WeChat Pay, Martin Lau, the company's president, told analysts on a post-earnings conference call earlier this month.

    The online giant had lost market share in restaurants but is "putting aside a pretty good budget to get back on the competition front", according to Lau.

    BLOOMBERG

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    国模无码一区二区三区不卡| 日本久久中文字幕| 高清无码v视频日本www| 免费无码婬片aaa直播表情| 在线播放无码高潮的视频| 亚洲中文精品久久久久久不卡| 精品亚洲A∨无码一区二区三区| 中文无码熟妇人妻AV在线| 亚洲欧美日韩中文久久| 免费看又黄又无码的网站 | 亚洲精品无码专区久久同性男| 成人无码免费一区二区三区| 亚洲成a人片在线观看中文动漫 | 国产a级理论片无码老男人| 无码精品国产dvd在线观看9久| 亚洲中文字幕无码一区二区三区| 国产羞羞的视频在线观看 国产一级无码视频在线 | 亚洲熟妇少妇任你躁在线观看无码| 亚洲AV无码AV男人的天堂| 欧美亚洲精品中文字幕乱码免费高清| 熟妇人妻中文a∨无码| 亚洲熟妇无码八V在线播放| 国产福利电影一区二区三区久久老子无码午夜伦不 | 精品深夜AV无码一区二区| 亚洲精品无码久久久久sm| 中文字幕51日韩视频| 日韩乱码人妻无码中文字幕视频 | 最近中文字幕国语免费完整| 日韩一本之道一区中文字幕 | 久久婷婷综合中文字幕| 中文字幕在线精品视频入口一区| 亚洲精品97久久中文字幕无码| av无码播放一级毛片免费野外| 精品欧洲av无码一区二区三区| 性无码专区无码片| 日韩精品无码一区二区中文字幕| 无码国内精品久久人妻| 欧洲Av无码放荡人妇网站| 69ZXX少妇内射无码| 性无码专区| 婷婷综合久久中文字幕蜜桃三电影 |