https://techcrunch.com/2018/08/23/alibaba-softbank-ele-me-koubei-local-services/

Alibaba has confirmed that it has raised $3 billion for its new-look local services business after it united its Koubei local services business with Ele.me, the on-demand delivery business it recently acquired.

The company said it put the capital into the business alongside SoftBank, according to a note within its financial results that were released today. TechCrunch understands that the actual amount raised may increase as existing Koubei investors have an option to be a part of the new round, while new backers may also be added. Bloomberg previously reported the consolidation and investment.