Highlights of tech financing in China this week: Alibaba invests USD 1.25B in food delivery service platform Ele.me and Meituan Dianping likely to have raised USD 2.8 billion with more cash soon to come.
Ele.me finds a new backer in Alibaba after splitting with Dianping, and Alibaba to gain a stronger foothold in the battle for supremacy in the food delivery space.
Stop eating at that ten kuai noodle place around the corner and discover new restaurants in your city with help from China’s most popular user driven review app.
China Internet Plus Holdings Ltd, the new combined entity of Meituan Dianping, is believed to have successfully fundraised and will make an official announcement soon.
Our daily highlights, updated: 355.2 million smartphones shipped globally in Q3; China Post foresees over 760 million Double 11 deliveries in coming week; mobile market key growth point for Tencent.
Our daily highlights: Duiba app receives USD 4.7 million investment; Suning opens first O2O center in Beijing; Smart POS Yunnex fundraises USD 15.8 million.
Don’t miss our daily highlights: Xiaomi moves into Africa and India; Huawei Mate 8 to launch Nov. 26; Tencent pours USD 1 billion into Meituan-Dianping.
China’s online foodscape has seen evolving alliances, mergers and consolidation on its way to surpassing its U.S counterpart. AllChinaTech explores the key differences between the two.