13:15, 24-Aug-2017
China's Take-out Giants: E Le Me buys Baidu's delivery service to compete with Meituan
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China's second largest online take-out service company, E-Le-Me has bought tech giant Baidu's alternative as a subsidiary company in an 800-million-dollar deal.
Experts say it's a bid to eclipse its rival and market leader, Meituan. Last year, the Big Three shared almost the entire online food ordering market. Meituan dominated with 40 percent, followed by E Le Me and Baidu with 35 and 18 percent respectively. Now, with the merger, it will no longer be a game for three, but one against one.