Alibaba is investing $1.25 billion into a Chinese food delivery company

Sean Gallup/Getty Images Alibaba Group Holding Ltd has agreed to invest $1.25 billion in Chinese online food delivery service Ele.me, leading business weekly Caixin reported on Friday. The report, citing unidentified sources, said Alibaba will obtain a 27.7 percent stake in Ele.me, becoming its biggest shareholder. Officials at Alibaba could not be immediately reached for comment. Ele.me, which roughly translates as 'Hungry Now?', is part of a trend in China for what is known as online-to-offlin...