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Alibaba Buys Ele.me, Meituan Buys Mobike

2018-04-08 ShanghaiWOWeng

Two huge deals that happened over the past week are shaking up the landscape for some of China’s biggest tech companies.

The first deal was the acqisition of Ele.me by Alibaba for US$9.5 billion. Ele.me’s fast and convenient food delivery service is the largest in China, with over 260 million users and 2 million merchants. The move is seen as a way for Alibaba to pursue their new retail strategy that seeks to increase connectivity between online and offline retailers.

 


The second big acquisition this week was Meituan’s purchase of a controlling stake in Mobike for US$3.7 billion. The deal was announced on April 4th and is expected to add renewed competitiveness to the already fierce bike share battles.


Sources: caixinglobal.com

Technology portal Lanjing TMT


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