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Alibaba to Invest $1.25B in O2O Services Company Ele.Me

According to a report by Caixin, Alibaba has agreed to invest $1.25 billion in Shanghai-based food ordering mobile app Ele.me. According to the agreement, Alibaba will own a 27.7% stake in Ele.me, thereby becoming the biggest shareholder in the startup.

In August, Ele.me raised US$630 million in its Series F funding round led by CITIC Private Equity Funds Management Co. and Shenzhen-listed Chinese shopping mall operator Beijing Hualian Department Store Co., Ltd. Before the Se ...

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