E-commerce and technology conglomerate Alibaba Group Holding has agreed to acquire a 57 percent stake in China-based online delivery and local services platform Ele.me. Alibaba and its affiliate Ant Small and Micro Financial Services currently own 43 percent of outstanding voting shares in the company. Exiting investors in Ele.me include private equity and venture capital firms CITIC Private Equity, Sequoia Capital, CMC Capital Partners, Matrix Partners and GSR Ventures, as well as strategic investors Tencent Holdings, JD.com and Meituan-Dianping. The transaction implies an enterprise value for Ele.me of US$9.5 billion.