E-commerce company Alibaba is set to purchase a minority stake in YTO, one of its 14 logistics partners, for an undisclosed sum.
E-commerce company Alibaba Group agreed yesterday to take a minority stake in China-based logistics company Shanghai YTO Express.
Neither the financial details of the deal nor the size of the stake Alibaba will acquire have been disclosed.
Alibaba’s investment is motivated by its slowed growth in China, partly caused by a logistics sector that has failed to keep track with the country’s booming e-commerce industry.
The conglomerate’s logistics subsidiary, Cainiao, will assist YTO in improving logistics management,…
