Ele.me
$0Bacquisition value
// OVERVIEW
Ele.me was acquired and is no longer an independent entity.
// HQ
—
// STATUS
ACQUIRED
// FOUNDED
—
// TIER
The Unicorn Herd · $1B – $9.9B
// PRIMARY SECTOR
ecommerce
// SECTORS SERVED
// WOWLS ASSESSMENT
Alibaba paid full peak valuation for a company losing money to Meituan in every major market outside Shanghai. By 2021 Meituan had 68% of China's food delivery market and Ele.me had the remainder, a position that has not materially changed despite three years of integration and subsidy spending. The merger with Koubei in 2020 was acknowledgment that standalone food delivery could not compete — Alibaba needed bundled restaurant reviews, reservations, and delivery to justify the traffic acquisition cost. The fact that Alibaba stopped breaking out Ele.me metrics in 2022 investor reports suggests the unit economics remain unfavorable even at scale.
// WHY WOWLS HUNTS THIS
The company no longer exists as an independent entity — absorbed into Alibaba's local services division and stripped of separate brand identity. Strategic acquisitions at full valuation are WOWLS proof that the acquirer feared the alternative more than they valued the asset.
VERDICT: FAIRLY PRICED — ALIBABA PAID $9.5 BILLION FOR PERMANENT SECOND PLACE IN CHINA'S FOOD DELIVERY DUOPOLY AND CONSIDERED IT WORTH THE PRICE TO PREVENT MEITUAN FROM ACHIEVING TOTAL DOMINANCE
// PACK DEBATE
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// LOADING INTEL…
// BROADCAST INTEL
// SIMILAR TARGETS
// INTEL UPDATED: MAY 2026
// INTELLIGENCE DISCLAIMER: Assessments represent editorial opinion based on publicly available data including filings, press reports, and market data as of the date shown. Valuations are approximate. Not financial or investment advice.
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