阿里巴巴洽談收購(gòu)餓了么

Alibaba is in talks to acquire Ele.me in a deal that could value the online food delivery start-up at up to $9.5bn as China’s tech titans battle it out for dominance of the sector.

阿里巴巴(Alibaba)正在洽談收購(gòu)“餓了么”(Ele.me)，對(duì)這家在線送餐初創(chuàng)企業(yè)的估值可能高達(dá)95億美元。目前中國(guó)科技巨頭正在爭(zhēng)奪行業(yè)主導(dǎo)地位。

Alibaba and rival Tencent, each with an equity value of more than $500bn, have kicked off the year with aggressive buying sprees as they take each other on in ecommerce, payments, food delivery and other services.

進(jìn)入2018年以來(lái)，阿里巴巴和競(jìng)爭(zhēng)對(duì)手騰訊(Tencent)大張旗鼓地掀起收購(gòu)熱潮。這兩家股權(quán)價(jià)值均超過(guò)5000億美元的巨擘在電子商務(wù)、支付、外賣(mài)和其他服務(wù)方面相互角力。

While they began life with clearly defined turfs — Alibaba in ecommerce and Tencent in social media — both are evolving into tech conglomerates dominating many aspects of life, some of which have been ceded by traditional companies.

盡管它們?cè)谄鸩诫A段都有明確定位(阿里巴巴開(kāi)展電子商務(wù)，騰訊經(jīng)營(yíng)社交媒體)，但兩家都在演變?yōu)榭萍季C合企業(yè)集團(tuán)，主宰人們生活的眾多方面，其中一些方面是傳統(tǒng)企業(yè)讓出的。

Food delivery is a case in point. China’s food delivery market was valued at Rmb204.6bn ($32.5bn) in 2017, according to the China Cuisine Association, an industry group.

外賣(mài)就是一個(gè)典型的例子。根據(jù)中國(guó)烹飪協(xié)會(huì)(China Cuisine Association)的數(shù)據(jù)，2017年中國(guó)在線外賣(mài)市場(chǎng)規(guī)模為2046億元人民幣(合325億美元)。

Alibaba and its payments affiliate Ant Financial already own 40 per cent of Ele.me but are looking to buy the remaining 60 per cent from existing investors including Baidu, according to people familiar with the matter.

據(jù)知情人士透露，阿里巴巴及其支付關(guān)聯(lián)公司螞蟻金服(Ant Financial)已經(jīng)擁有餓了么40%股份，但正在尋求從百度(Baidu)等現(xiàn)有投資者手中買(mǎi)下其余的60%股份。

Recent Chinese media reports have suggested a deal could value the food delivery app at up to $9.5bn. Ele.me was valued at $5.5bn at its last funding round in August 2015, according to CBInsights.

中國(guó)媒體近日?qǐng)?bào)道提出，該交易對(duì)這款送餐應(yīng)用的估值可能達(dá)到95億美元。CBInsights的數(shù)據(jù)顯示，餓了么在2015年8月進(jìn)行的上一輪融資中的估值為55億美元。

Ele.me currently accounts for 48.8 per cent of the online food delivery market in China, closely followed by Meituan with 43.1 per cent, according to Analysys International.

根據(jù)易觀國(guó)際(Analysys International)的數(shù)據(jù)，餓了么目前占中國(guó)在線外賣(mài)市場(chǎng)的48.8%，緊隨其后的是美團(tuán)(Meituan)，占43.1%。

Should the deal go through, Alibaba would become one of the country’s largest players in food delivery, rivalled only by online-to-offline services platform Meituan-Dianping, which is backed by Tencent. Meituan-Dianping was valued at $30bn in its latest funding round last year.

如果這筆交易完成，阿里巴巴將成為中國(guó)外賣(mài)行業(yè)最大的提供商之一，只有騰訊支持的線上到線下(O2O)服務(wù)平臺(tái)美團(tuán)點(diǎn)評(píng)(Meituan-Dianping)能與其爭(zhēng)鋒。美團(tuán)點(diǎn)評(píng)在去年進(jìn)行的最新一輪融資中估值達(dá)到300億美元。

Alibaba and Baidu declined to comment on the negotiations.

阿里巴巴和百度拒絕對(duì)相關(guān)談判置評(píng)。

Ele.me, a play on the Chinese phrase for “hungry yet?”, has emerged as one of the biggest food delivery players in China since it was founded in 2008.

自2008年成立以來(lái)，餓了么已崛起為中國(guó)最大送餐提供商之一。

For Baidu, the third of China’s big internet players, the deal would mean an exit from another services sector as it focuses on developing emerging technologies in artificial intelligence and autonomous driving.

對(duì)百度來(lái)說(shuō)，這筆交易意味著從又一個(gè)服務(wù)行業(yè)退出。這家中國(guó)第三大互聯(lián)網(wǎng)公司正專(zhuān)注于開(kāi)發(fā)人工智能和自主駕駛領(lǐng)域的新興技術(shù)。

While Ele.me fits into Alibaba’s strategy of “new retail”, fusing the online and offline worlds in retail and services, it is a step into a more capital-intensive arena.

盡管餓了么契合阿里巴巴的“新零售”戰(zhàn)略，打通零售和服務(wù)行業(yè)的線上和線下世界，但這起收購(gòu)也意味著向資本密集度更高的舞臺(tái)邁出一步。

Its ecommerce and logistics businesses are typically “asset-lite” — unlike Amazon or Chinese ecommerce rival JD.com Alibaba does not own big delivery fleets and chains of warehouses

阿里巴巴的電子商務(wù)和物流業(yè)務(wù)一般是“輕資產(chǎn)”的，與亞馬遜(Amazon)或另一家中國(guó)電商京東(JD.com)不同，阿里巴巴并不擁有大規(guī)模送貨團(tuán)隊(duì)和連鎖倉(cāng)庫(kù)。

Ele.me, which covers 2,000 cities in China, owns its network and its delivery couriers are on its payroll.

覆蓋中國(guó)2000個(gè)城市的餓了么擁有自己的網(wǎng)絡(luò)，并雇用自己的送貨員。

This stands to complement Alibaba’s latest retail efforts in other areas, such as its Hema supermarkets, which also do fast delivery in small areas — bolstering its “last mile” delivery capability.

這將補(bǔ)充阿里巴巴在其他領(lǐng)域的最新零售策略，比如盒馬鮮生(Hema)超市，這些超市也在小范圍提供快速送貨——增強(qiáng)其“最后一公里”送貨能力。

Tencent and Alibaba have dominated the M&A calendar in the past three months, particularly in retail. Tencent has partnered with Chinese supermarket operator Yonghui and Carrefour of France and has invested in online retailer Vipshop, while most recently Alibaba has taken a stake in Easyhome, a furniture retailer, and Shiji, a data service company focusing on the hotel and travel industry.

騰訊和阿里巴巴在過(guò)去3個(gè)月里主導(dǎo)了并購(gòu)日程表，特別是在零售業(yè)。騰訊與中國(guó)超市運(yùn)營(yíng)商永輝(Yonghui)和法國(guó)家樂(lè)福(Carrefour)結(jié)成合作伙伴關(guān)系，并投資了在線零售商唯品會(huì)(Vipshop)，而阿里巴巴最近入股了家具零售商居然之家(Easyhome)以及專(zhuān)注于酒店和旅游行業(yè)的數(shù)據(jù)服務(wù)公司石基(Shiji)。

Alibaba also has invested significantly in offline retail, started its Hema chain of grocery stores, and has shored up its holdings in Cainiao, the expansive logistics platform that began as a grocery delivery system in which it has a controlling stake.

阿里巴巴還大舉投資于線下零售，推出盒馬鮮生連鎖超市，還增持了菜鳥(niǎo)(Cainiao)股份;菜鳥(niǎo)是一個(gè)從送貨系統(tǒng)起步的龐大物流平臺(tái)，阿里巴巴持有其控股股權(quán)。