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   607

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.

Binance DEX to Launch Trading

Mithril is the first asset, that is trading on new platform; also, the exchange presented the listing rules for assets
25 April 2019   82

Binance DEX announced the start of trading in the Mithril token (MITH) together with Binance Coin (BNB). This is the first asset in the listing site.

At the same time, the exchange presented the listing rules for assets. So, anyone can release a token on the Binance Chain, but listing it to the marketplace takes place in several stages.

First of all, the issuer must place a listing application on the Binance Chain community forum, providing answers to a number of questions relating to the innovativeness of the project, its scope and other characteristics.

After that, the issuer must make a deposit in the amount of 1,000 BNB within two days, which will be returned later. Note that the listing of an asset on Binance DEX must be approved by at least half of the validators.