Alibaba’s layoff comes after the company recorded its slowest revenue growth in 2021 since it went public on the New York exchange in 2014.
Meituan made the move less than two weeks after regulators asked platforms cut fees for restaurants suffering from the coronavirus outbreak.
Alibaba announced today that it will acquire all outstanding shares that it does not already own in food delivery platform Ele.me. The transaction implies the enterprise value of Ele.me at US$9.5 billion. Alibaba and its financial arm Ant Financial are already the largest shareholder in the company with approximately 43% shares. Rumors of Alibaba’s acquisition […]
Drones are officially joining China’s food delivery service. Chinese food delivery platform Ele.me has gotten approval for the country’s first batch of air routes for real-time delivery drones in Shanghai on May 29. There are 17 routes in total, all located in Jinshan Industrial Park in the Shanghai suburbs. With three to four flights on each […]
Merchants are accusing food delivery startup Ele.me of forcing to deduct RMB 3 per order for promotion fee for a bid ranking, Tencent News is reporting. When food & beverage businesses and Ele.me cooperate, Ele.me deducts 6% of every single order. Adding the RMB 3 to original 6% deduction, it will become money-losing deals for […]
Baidu Waimai, a takeaway service previously owned by Baidu and now under Alibaba’s Ele.me, is facing protests from its commercial agents. More than 50 agents employed by the company gathered in front of its headquarters on July 16th to voice their grievances and ask for a meeting with Baidu-founder Robin Li, local media is reporting. […]
This week has been brimming with rumors on Alibaba’s takeover of food delivery platform Ele.me. Media reports stated that Alibaba plans to purchase food delivery platform Ele.me for US$9.5 billion. Both Alibaba and Ele.me have declined to comment on the rumors but we know one thing: something is definitely cooking between the pair. Beijing Hualian […]
Editor’s note: This originally appeared on Analyse Asia, a weekly podcast hosted by Bernard Leong, dedicated to dissecting the pulse of business, technology, and media in Asia. The podcast features guests from Asia’s vibrant tech community. Jon Russell, from TechCrunch joined us in a two-episode arc to discuss the major acquisitions that are shaking the Asia […]
Chinese ride hailing company DiDi announced on March 19th that the company will raise $1.5 billion in funding using asset-backed securities (ABS), after getting approval from the Shanghai Stock Exchange. ABS is a financial security collateralized by a pool of assets such as loans, leases, credit card debt, royalties or receivables. This enables DiDi to help […]
China’s popular apps have found themselves in hot water as the public scrutinizes how tech companies collect user data. Companies including iQiyi, Youku, and Ele.me have responded to the latest criticisms relating to user privacy. Earlier this week, Baidu CEO Robin Li’s claim that people in China “are more open, or are not that sensitive […]