Alibaba Loses $100 Billion in Market Value Amid Food-Delivery War
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最新报道：Alibaba's market value plunged over $100 billion as its food delivery arm Ele.me struggles to compete with Meituan in China's $150 billion online food delivery sector. Despite heavy subsidies, Ele.me's market share dropped from 50% to around 30% in recent years while Meituan dominates with 70%. Analysts cite Alibaba's lack of operational focus and frequent leadership changes at Ele.me as key factors. The fierce competition has led to losses for both platforms, with Meituan's food delivery unit only achieving profitability in 2019 after years of subsidies. The battle reflects broader challenges for Alibaba as it faces slowing growth and regulatory pressures.
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