Alibaba spinoff Koubei has joined forced with the corporate's newly acquired Ele.me, with more than $3bn from Alibaba and SoftBank.
E-commerce group Alibaba yesterday confirmed that it had merged local services spinout Koubei and food delivery platform Ele.me into a single entity with $3bn from investors including telecommunications firm SoftBank.
Alibaba disclosed the information in its Q2 2018 financial results, which confirmed recent reports that Koubei, spun off in 2015, and Ele.me, which it acquired in May this year, had been joined into a single, as yet unnamed vehicle.
The entity has so far received more than $3bn…
