Alibaba’s 2018 investment spree looks set to continue after it made a push to buy Ele.me, the food delivery startup from China that it has invested in, in full.
Bloomberg reported yesterday that Alibaba plans to purchase the roughly-60 percent of Ele.me that it currently doesn’t own from the other investors, which include search giant Baidu. TechCrunch has confirmed that with sources close to Alibaba, who told us that a proposal to buy the remaining stakes was submitted to investors yesterday.
…The acquisition could value Ele.me at as much a $9.5 billion