Tuesday, January 27, 2015

Online Food Delivery Is A Thing (sorry Webvan): China Co. Raises $350 Million from CITIC PE, Tencent, JD.com, Others

From PE Hub:
Chinese online food delivery service Ele.me said on Tuesday it has raised $350 million from investors including CITIC Private Equity, Tencent Holdings Ltd (0700.HK), JD.com Inc (JD.O), Dianping and Sequoia Capital.

The delivery firm, whose name roughly translates as ‘Hungry Now?’, is part of a trend in China for what is known as online-to-offline (O2O) services. These include taxi hailing and restaurant review apps that link smartphone users with offline businesses.

Ele.me said it would continue to operate independently after the fundraising round. It declined to disclose its current valuation.

As more Chinese use their phones for everything from shopping to booking restaurants, China’s internet giants Alibaba (BABA.N), Tencent and Baidu Inc (BIDU.O) are increasingly investing these services to attract more users to their own platforms....MORE
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Where does the $350 million raised by Berlin-based online food-delivery company Delivery Hero rank among the top venture deals ever for a Europe-based company?
As it turns out, it was the biggest in years....