Softbank’s Vision Fund To Invest $3B In Alibaba’s Food Delivery App Ele.me

SoftBank Group Corp.’s Vision Fund plans to lead an investment of US$3 billion to US$5 billion in Alibaba’s food delivery giant Ele.me, according to a Bloomberg report. Masayoshi Son’s near-$100 billion is in discussions with potential investors including venture capital firms added the report. As part of the agreement, Alibaba intends to merge Ele.me with in-house arm Koubei, which focuses on connecting restaurants to the internet but negotiations are ongoing and the terms could still change, said the report. The SoftBank …

Softbank’s Vision Fund To Invest $3B In Alibaba’s Food Delivery App Ele.me appeared first on China Money Network.

Read the original article: China Money Network