China's Ele.me, the online food delivery company acquired by Alibaba Group Holding Ltd, will spend one billion yuan ($147.31 million) each month this summer on subsidies and marketing as competition in the sector reaches fever pitch. Ele.me will spend a total of 3 billion yuan over three months from July to September in an effort to lift its market share to more than 50 percent, Chief Executive Lei Wang told Reuters on Monday. Alibaba bought the remaining stake of Ele.me it did not already own in April in a deal that valued the startup at $9.5 billion yuan.
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