Ele.me Acquires Rival Baidu Waimai For $800M

Login to View

Ele.me, China’s leading online food delivery and local services platform says it has acquired Baidu Waimai, the food delivery arm of Internet giant Baidu Inc. for US$800 million. The price represents a significant discount from Baidu Waimai’s previously rumored price of US$2 billion just last year, indicating how the food delivery app business is under intense competitive pressure and how desperate Baidu is in disposing the unit.

China Money Network

UNLOCK DATA
Subscribe & Access the Best Data and Intelligence on Chinese Venture Capital and Tech


Want to read this important story?

Access Over 11,000 stories and data posts over the past 8 years!

Register Now


Already have an account or paid subscription? Log in


RELATED NEWS