Alibaba Puts $900m in Food Startup

The Economic Times - - Disruption: -

Alibaba, a Chi­nese ecom­merce gi­ant worth $198 bil­lion, has in­vested $900 mil­lion into a food de­liv­ery com­pany called Ele.me, ac­cord­ing to TechCrunch. Ele.me re­ceived an ad­di­tional $125 mil­lion from Ant Fi­nan­cial, a fi­nan­cial af­fil­i­ate com­pany of Alibaba. The lat­est pri­vate equity fund­ing round brings to­tal fund­ing in Ele.me up to $2.34 bil­lion. Founded in 2008, Ele.me is a Shang­hai-based com­pany that al­lows peo­ple to or­der take­aways from restau­rants that don't typ­i­cally de­liver. — Busi­ness In­sider

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