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September 26, 2017 02:33 pm GMT

Alibaba pays $807M to take majority ownership in logistics affiliate Cainiao

Alibaba is getting serious about logistics after it agreed to invest RMB 5.3 billion ($807 million) in order to take majority ownership in subsidiary companyCainiao. Cainiao was created four years agoalongside eight other backers to bring organization in Chinese logistics, particularly around e-commerce deliveries. The company raised its first outside funding in March 2016—… Read More

Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/iABWYnm8uuE/

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