Ele.me to get $1B in one of year's biggest VC rounds
May 26, 2017
Platform Software | Shanghai, China | Corporate
Chinese food-delivery service Ele.me has agreed to take on the financing from Alibaba and Ant Financial at a valuation somewhere between $5.5 billion and $6 billion, per Bloomberg. Alibaba previously invested $1.25 billion to acquire a 27.7% stake in Ele.me in 2015, becoming the company's largest shareholder, per reports. The food deliverer is also backed by Sequoia China and GSR Ventures, among other investors. The deal would be the fifth VC round this year to top the $1 billion mark, per the PitchBook Platform, joining investments in Didi Chuxing, Grab, Airbnb and Toutiao.