Alibaba To Invest $1.25B In Restaurant Delivery Service

Alibaba Group Holding Ltd. has agreed to invest $1.25B in Chinese food delivery service Ele.me which is translated as "Hungry Now?".

The Report from unidentified sources Said Alibaba will obtain a 27.7 percent stake Ele.me and becoming of the biggest Share Holders.

alibaba

It was said earlier this year the food delivery service raised $350Million from Investors, As more Chinese uses their phone for everything which from Shopping to Booking Restaurant, So China Internet Giant Alibaba, Tencent and Baidu Inc are seriously investing on these service to attract more people to their own Platforms.

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