Business, Internet

Chinese Meal Ordering Platform Gains Additional Investment

Chinese meal ordering platform Ele.me announced that the company has gained new investments of a whopping USD350 million and its investors including Tencent, JD.com, Dianping.com, Sequoia Capital, and CITIC Private Equity Funds.

According to Ele.me, after the financing the company will still maintain its independent operation and will implement strategic cooperation with its investors.

Zhang Xuhao, chief executive officer of Ele.me, said that in 2014 their platform completed 110 million orders and it accepted two million orders in a single day at peak time. Meanwhile, the company boasted 60% market share in China.

So far, the business of Ele.me has covered 250 cities across China, reaching 200,000 restaurants and 20 million users. Of its total transactions, over 75% were completed on mobile devices.

Zhang revealed that with the completion of the latest financing, Ele.me will aim at three major tasks. The company plans to optimize delivery services in colleges to enhance its position in the campus market; they will expand into the residential areas of white-collar workers; and they will focus on the establishment of an owned logistics system.


Image Credit: Kasin Visrutavanij

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