Hangzhou, 2nd April: Earlier this week, the leading e-commerce company in China, Alibaba Group, announced the company will acquire the outstanding shares of Ele.me, a leading online delivery and local services platform in China.
Alibaba and its affiliate Ant Small and Micro Financial Services Group currently own about 43% of the outstanding voting shares of Ele.me. The transaction will value Ele.me at US$9.5 billion.
After the transaction, Ele.me will continue to operate in its own brand and Alibaba will support it through its infrastructure, product offerings and technology expertise. Founder of Ele.me, Zhang Xuhao, will become Chairman of Ele.me and special advisor to Alibaba’s CEO on new retail strategy. Wang Lei, Vice President of Alibaba Group, will become Chief Executive of Ele.me.