* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, July 27, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Top 5 entertainment news: Sandeep Reddy Vanga regrets trimming Animal’s runtime by 7-8 minutes, Akshay Ku – Times of India

    Top 5 Entertainment Highlights: Sandeep Reddy Vanga Reveals Why He Trimmed Animal’s Runtime by 7-8 Minutes, Plus Akshay Ku Updates

    Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

    Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Eagle Unveils Revolutionary X-Ray Technology at Pack Expo

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Top 5 entertainment news: Sandeep Reddy Vanga regrets trimming Animal’s runtime by 7-8 minutes, Akshay Ku – Times of India

    Top 5 Entertainment Highlights: Sandeep Reddy Vanga Reveals Why He Trimmed Animal’s Runtime by 7-8 Minutes, Plus Akshay Ku Updates

    Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

    Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Eagle Unveils Revolutionary X-Ray Technology at Pack Expo

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

ByteDance in Talks to Acquire Ele.me, Acquisition Denied by Ele.me

January 16, 2024
in Technology
ByteDance in Talks to Acquire Ele.me, Acquisition Denied by Ele.me
Share on FacebookShare on Twitter

According to a report by Chinese media outlet Caijing, TikTok’s parent company ByteDance is in negotiations with Alibaba to acquire its food delivery platform, Ele.me. The acquisition is still in the discussion stage, and no final decision has been reached. On Monday, Ele.me responded by saying, “There’s no such thing. It’s completely a rumor.”

According to Caijing, a source close to Ele.me revealed that ByteDance and Ele.me’s executives had a meeting before the end of 2023, which resulted in two disagreements:

The acquisition price: ByteDance’s offer stands at $7 billion, while Alibaba‘s expected price ranges between $7.5 and $8 billion.
The form of acquisition: ByteDance aims to retain only Ele.me’s instant delivery team, which would handle orders from Douyin’s local life business. However, Alibaba hopes that ByteDance can take over the entire Ele.me team, with ByteDance then responsible for any necessary layoffs.

Ele.me is China’s second-largest food delivery platform. In April 2018, Alibaba Group announced its acquisition of Ele.me for $9.5 billion. At the time, Alibaba stated that this acquisition represented a significant breakthrough in its new retail strategy. Going forward, Ele.me was projected to become a key player in Alibaba‘s new retail strategy. In August 2023, Douyin and Ele.me partnered in the food delivery sector.

Two insiders from Alibaba, who are close to Ele.me, told Caijing that there are two camps of opinions within Alibaba regarding Ele.me: some view Ele.me as a “burden” for Alibaba‘s transformation, supporting its sale to focus on other more critical businesses. Others believe that it is possible to cooperate with Douyin in the long term, but selling Ele.me could impact the value of Alibaba‘s entire local life business.

Alibaba‘s financial report for the second quarter of fiscal 2024 (July to September 2023) shows that Alibaba‘s local life business, including Ele.me and Amap, generated revenue of 15.56 billion yuan, marking a year-on-year increase of 16%. The report also highlighted that Ele.me continued to improve its operating efficiency as the business scale grew, which led to a continued year-on-year narrowing of operating losses. This, in turn, drove the local life group’s adjusted EBITA (earnings before interest, tax, and amortization) to increase to 2.56 billion yuan.

Another key party involved in this potential transaction is Meituan, the market leader in the local life sector and a direct competitor of Ele.me. 

On December 19, 2023, when rumors of the acquisition surfaced, Meituan‘s stock price fell by 8% in a single day. An investor close to Meituan told Caijing that if the acquisition is finalized, the most significant impact will be on Meituan, and the capital market may further downgrade expectations for Meituan‘s future development. Meituan experienced a significant reduction in market value in 2023, with a decrease of over 500 billion yuan, bringing its latest market value to 469.9 billion Hong Kong dollars.

Ele.me is a direct competitor of Meituan, but over the past few years, Meituan‘s attitude towards Ele.me has been more supportive than competitive. A Meituan insider told Caijing that for Meituan, Ele.me’s existence helps reduce regulatory pressure regarding monopoly. Meituan hopes for Ele.me’s stable development, but if it is acquired by ByteDance, “it would be the worst outcome for Meituan.”

According to data from third-party agency Trustdata, in 2020, Meituan and Ele.me held market shares of 68% and 25%, respectively. By 2022, these figures had shifted to 72% and 15%, indicating a widening gap between Ele.me and Meituan. Besides its food delivery business, Meituan has ventured into multiple business sectors. In its current market strategy, the biggest competitor is not Ele.me, but ByteDance. In August 2023, after ByteDance announced its cooperation with Ele.me, Meituan announced a partnership with another video platform, Kwai. In addition, Meituan significantly increased subsidies and reduced merchant commissions in 2023, which are all defensive measures against ByteDance.

SEE ALSO: Douyin and Ele.me Both Deny Acquisition Rumors

Sign up today for 5 free articles monthly!

Pandaily Substack subscribe

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Pandaily – https://pandaily.com/bytedance-in-talks-to-acquire-ele-me-acquisition-denied-by-ele-me/

Tags: ByteDanceTalkstechnology
Previous Post

Microsoft Copilot adds a premium subscription, Copilot Pro

Next Post

Cybertruck Set for Anticipated Introduction to Chinese Market in Q1 2024

Clinch County Schools prepare for students’ return with new policies, technology – WALB

Clinch County Schools Prepare for Students’ Return with Exciting New Policies and Cutting-Edge Technology

July 27, 2025
Highlights: Xfinity Series at Indy on The CW – NBC Sports

Unforgettable Thrills Ignite the Xfinity Series at Indy

July 27, 2025
Yellowstone aspen showing signs of recovery following 1995 reintroduction of wolves to park – Oregon State University

Yellowstone Aspen Thriving Again Years After Wolves Were Reintroduced

July 26, 2025
CMC trustees approve new biological science bachelor’s degree – KUNC

CMC Trustees Approve Exciting New Bachelor’s Degree in Biological Sciences

July 26, 2025
By cutting science, the Defense Department is eating its seed corn – Defense News

Cutting Science Funding: How the Defense Department Is Jeopardizing Tomorrow’s Innovation

July 26, 2025
Opinion | Lifestyle Interventions Should Not be Replaced by GLP-1s – MedPage Today

Why Lifestyle Changes Must Stay the Cornerstone-Not GLP-1s

July 26, 2025
World’s most premature baby celebrates first birthday – The Guardian

World’s most premature baby celebrates first birthday – The Guardian

July 26, 2025
Idaho’s first geological engineering degree to power workforce, economy – Bonner County Daily Bee

Idaho Launches Its First Geological Engineering Degree to Boost Workforce and Drive Economic Growth

July 26, 2025
Top 5 entertainment news: Sandeep Reddy Vanga regrets trimming Animal’s runtime by 7-8 minutes, Akshay Ku – Times of India

Top 5 Entertainment Highlights: Sandeep Reddy Vanga Reveals Why He Trimmed Animal’s Runtime by 7-8 Minutes, Plus Akshay Ku Updates

July 26, 2025

How do the microplastics in our bodies affect our health? – BBC

July 26, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (740)
  • Economy (764)
  • Entertainment (21,645)
  • General (16,124)
  • Health (9,802)
  • Lifestyle (772)
  • News (22,149)
  • People (766)
  • Politics (773)
  • Science (15,979)
  • Sports (21,262)
  • Technology (15,746)
  • World (747)

Recent News

Clinch County Schools prepare for students’ return with new policies, technology – WALB

Clinch County Schools Prepare for Students’ Return with Exciting New Policies and Cutting-Edge Technology

July 27, 2025
Highlights: Xfinity Series at Indy on The CW – NBC Sports

Unforgettable Thrills Ignite the Xfinity Series at Indy

July 27, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version