Alibaba is aggressively investing in popular Chinese food-delivery service Ele.me. The company hopes to expand its reach into consumer-wallet spending beyond e-commerce.
Business Insider says Alibaba has raised $3 billion to further invest in Ele.me. Plans are to merge the online food-delivery unit with Koubei, a life search engine.
In May, Alibaba completed its acquisition of Ele.me. Ele.me has an enterprise value of $9.5 billion. Alibaba already announced plans to partner Ele.
