Confirmed: Alibaba invested $1.25 billion in China’s top food delivery startup

ChinaTech in Asia — Chinese tech giant Alibaba has sure been busy of late. The ink is barely dry on its US$1 billion deal with Lazada, and now we’ve got confirmation that it has also invested US$1.25 billion in Chinese food delivery startup Ele.me. Last week, we wrote that the investment had almost definitely happened because Alibaba’s Joe Tsai had joined Ele.me’s board, but neither side had officially confirmed the news or revealed the details of the transaction. Today, Ele.me finally spilled the beans.

https://www.techinasia.com/confirmed-alibaba-invested-125-billion-food-delivery-startup-eleme

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