- Reports claimed ByteDance bid $7B to acquire Ele.me food delivery platform.
- But Ele.me denied acquisition rumors, citing an existing partnership with ByteDance’s Douyin.
- The firms maintain their strategic partnership, per an Ele.me spokesperson.
Reports emerged this week that Chinese tech giant ByteDance was negotiating to acquire Ele.me, the Alibaba-backed food delivery platform, from shareholders Alibaba Group.
However, a spokesperson for Ele.me has denied these rumors, stating that the reports of potential acquisition are false.
Details of the alleged offer and negotiations
On Monday, Caijing magazine cited unnamed sources claiming that ByteDance offered $7 billion to purchase Ele. me.
According to Caijing, ByteDance was interested in buying Ele.me’s immediate delivery business. At the same time, Alibaba was only willing to allow the sale of the entire platform, not parts, causing negotiations to stall.
Rumors also emerged in December that ByteDance’s Douyin platform wanted to purchase Eleme, but both companies denied those reports.
History of their partnership
The rumors have brought attention to the partnership Eleme and Douyin formed last August. As part of the partnership, Ele.me enables merchants on Douyin’s platform to offer immediate delivery and other services to Douyin users.
The partnership between the ByteDance-owned Douyin and the Alibaba-backed Eleme has steadily advanced.
Despite collaborative efforts, Ele.me firmly rejected this week’s reports of acquisition by ByteDance, putting the rumors to rest. The companies maintain their strategic partnership at this time, according to Ele.me representatives.
