Alibaba buys delivery startup Ele.me at $9.5 bn valuation
Chinese e-commerce giant Alibaba has announced the company will buy China-based food delivery startup Ele.me for an undisclosed amount in an all-cash deal. The latest deal will value the startup at $9.5 billion, Alibaba said in a statement. Alibaba and its affiliate Ant Small and Micro Financial Services Group already owned about 43% of the startup.