Alibaba to buy food delivery app

food delivery app

(Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) said on Sunday it would buy all shares that it does not already own in food delivery platform

Drivers of the food delivery service prepare to start their morning shift after an internal security check in Beijing.
The deal implies an enterprise value of $9.5 billion for, Alibaba said in a statement., which roughly translates as “Hungry?”, is part of a fast-growing - though fiercely competitive - market in China being driven by consumers eager to make purchases on their smartphones, from groceries to cinema tickets.

Source: Reuters

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