China’s Alibaba Buying Ele.me (“hungry yet?”) for $9.5B
China’s Alibaba (BABA) is reported to be buying local delivery startup Ele.me, which means “hungry yet?” for $9.5B. Ele.me operates delivery people on motorbikes across China. Zhang Xuhao, Ele.me’s founder, will become chairman of the company, while Wang Lei, vice president of Alibaba Group, will become the chief executive officer.
Ele.me is in a fight with Meituan Dianping, a Tencent Holdings (TCEHY) backed startup, to gain control of the Chinese local delivery market.
Meituan Dianping is seeking to go public this year at a valuation reported to be in the $60 billion range.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive!