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Tag: Cainiao

China’s Alibaba invests $3.3 billion to raise stake in logistics unit Cainiao, Retail News, ET Retail

SHANGHAI – China’s e-commerce giant, Alibaba Group Holding , said on Friday it would invest an additional 23.3 billion yuan ($3.33 billion or £2.6 billion) to raise its equity stake in its logistics affiliate Cainiao Smart Logistics Network to 63% from 51%. Alibaba co-founded Cainiao in 2013, with partners including department store owner Intime Group, …

China’s Alibaba invests $3.3 billion to raise stake in logistics unit Cainiao, Retail News, ET RetailRead More