Ele.me, the food delivery business owned by Alibaba, and Koubei, have been merged and received $3 billion in funding from the Chinese e-commerce giant and SoftBank, the companies announced Thursday.

Alibaba said in its earning statement that Ele.me would be merged with Koubei, an affiliate company that focuses on bringing local businesses online by providing payment and other technology services. Both firms would sit under a new holding company.

"As a result of this reorganization, subject to closing conditions, we will consolidate Koubei, which would result in a material one-off revaluation gain when the transaction closes," Alibaba said.