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Alibaba, Ant Financial Bet $1.25 Billion On Food Delivery Startup Ele.me

After much speculation it’s been confirmed that Alibaba and their financial affiliate, Ant Financial, will together invest $1.25 billion USD in Chinese on-demand food delivery app Ele.me. Alibaba will pitch in $900 million USD while Ant Financial will add an extra $350 million to the round. The deal also includes a new partnership between Alibaba’s own on demand […]