Alibaba going to buy out Retail Ele.Me Stocks

The large e-commerce Chinese company, Alibaba, is to buy out the remaining stocks of food delivery platform Ele.me
02 April 2018   664

This transaction will let the restaurant take out and the local services app to be valued in 9.5 billion US dollar. The above mentioned bargain is the biggest one to be kept among the China's trade giants. It will provide Alibaba the access to Ele.me`s horde of above 3 million delivery staff, spanning the nation. Also the e-commerce giant would be able to quickly send meals, groceries and an increasing wider array of goods of items as it gradually bets down on a 'new retail' strategy.

Approximately 57 % of Ele.me outstanding shares from earlier investors (supermarket chain Hualian Group and Jd.com) will be bought by Alibaba. Mostly these companies were aimed to capitalize on China's retail revolution. This can be explained by the changes in consumer market which make shopping to become a jointless connection of online and offline channels, varied by specialized design, experience and social media friendly marketing techniques. All they are kept in place by a highly efficient delivery system.

Ele.me is known as a platform that was founded out of a college hostel about 10 years ago and today it has 26 million users. The representatives of the platform  declared they had chosen to join into the Alibaba business sphere despite the investors were ready to go on funding the cash-burning company.

Money is not everything in this current phase of on-demand services sector. The trend is a complementary relationship between new retail and food delivery, which is why we choose to partner with Alibaba, who has the strongest position in new retail.
 

Zhang Xuhao

Founder, Ele.me

In order to put a head start in the inspicient sector, Alibaba has made a number of forays, privatizing large supermarket chains and picking up smaller fresh food delivery contenders, launching a number of Hema supermarkets under its new retail policy.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   159

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.