baidu sells fooddelivery unit to alibababacked eleme
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Baidu sells food-delivery unit to Alibaba-backed Ele.me

Arab Today, arab today

Arab Today, arab today Baidu sells food-delivery unit to Alibaba-backed Ele.me

Shanghai - AFP

Alibaba-backed Chinese food delivery firm Ele.me will take over the food delivery unit of search engine giant Baidu in a deal that could be worth up to $800 million, the firm and a report said Thursday.

Shanghai-based Ele.me, which means "Are you hungry?" in Chinese, said it would take control of Baidu Waimai, which will continue to operate under its own name and management and also will receive shares of Ele.me.

Further details were not given.

But the state-run China Business News reported that the deal will be financed with a mix of cash and Ele.me corporate shares that will value Baidu Waimai at $500-800 million.

Alibaba, which invested $1.25 billion in Ele.me in April 2016 together with its financial arm Ant, plans to inject at least another $1 billion, Bloomberg News reported in May.

Based on mobile apps, the food-delivery industry has boomed in China and especially in big cities like Beijing and Shanghai thanks to the growing number of mobile internet users and online payments in the country.

Ele.me has 260 million users in 2,000 Chinese cities served by three million scooter-riding delivery staff, its statement claimed.

Ele.me has 42 percent of the market share, just ahead of its biggest competitor Meituan Waimai’s 41 percent, according to Internet consultancy Analysys International.

Baidu Waimai has 13 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

baidu sells fooddelivery unit to alibababacked eleme baidu sells fooddelivery unit to alibababacked eleme

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

baidu sells fooddelivery unit to alibababacked eleme baidu sells fooddelivery unit to alibababacked eleme

 



GMT 16:40 2018 Wednesday ,05 December

Trump to join world leaders at Bush funeral

GMT 12:08 2017 Saturday ,22 April

LaLaQueen bags lure fashionistas

GMT 18:19 2017 Thursday ,09 February

Iraqi forces thwart ISIS attack Baiji

GMT 05:42 2017 Tuesday ,24 October

Cyberfirm Kaspersky seeks to win back trust

GMT 09:09 2015 Thursday ,01 October

Serena withdraws from China Open and WTA Finals

GMT 20:04 2017 Thursday ,15 June

Midday break starts from Thursday in Dubai

GMT 15:10 2018 Sunday ,09 December

President Abbas to address Fatah Advisory Council

GMT 15:12 2018 Saturday ,01 September

Time is running out for Iran and its interests in Yemen

GMT 22:52 2017 Sunday ,24 December

Ministry of Health discusses ties with Romania

GMT 14:58 2012 Tuesday ,18 September

Feng Shui Tips for autumn

GMT 15:20 2017 Saturday ,30 September

Chinese manufacturing accelerates for second month

GMT 08:29 2017 Wednesday ,18 January

Industrials, Financials drag Canadian market down
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday