Alibaba, an online and mobile commerce company, is on an investment spree. The latest news is that the company has bought 27.7 percent stake in Ele.me, a Chinese food delivery services.

The company is reportedly investing $1.25, and it is set to become the largest stakeholder in Ele.me, which translates to "Hungry?" in English. With this investment, Alibaba expects to drive more traffic to its services. Reuters reported that both Alibaba and Ele.me have declined to comment on the investment.  

Like Us on Facebook

The investment in Ele.me is expected to boost Alibaba's offline capabilities, according to Shanghai Daily. It may also challenge the firm that was created by the merger of Meituan and Dianping.com.  

Ele.me has been attracting investment since it was founded in September 2008. CITIC Private Equity, Tencent Holdings, JD.com, Dianping and Sequoia Capital have already invested in the company. In August, Ele.me reportedly became the third most funded Chinese start-up. According to Venture Beat, the company received an investment of $630 million in Series F funding .

Meanwhile, earlier this month, Alibaba announced that it is buying South China Morning Post, the Hong Kong-based leading English language newspaper, and its other media assets. "Our vision is to expand the SCMP's readership globally through digital distribution and easier access to content," Joe Tsai, executive vice chairman of Alibaba Group, said in a press statement.  This was not Alibaba's first investment in a Chinese media firm this year. In June, the company bought a stake in Business Standard, a financial media firm.

TagsAlibaba Investment, Alibaba invests in Ele.Me, Chinese food delivery services, Chinese online services