Cainiao Networks has taken a controlling stake in the logistics service provider, which already counted Cainiao parent Alibaba as an investor.
Cainiao Networks, the logistics division of e-commerce group Alibaba, paid $290m for a controlling stake in China-based retail delivery service Dianwoda today.
Founded in 2009, Dianwoda operates an outsourced delivery service that connects shops with drivers that can deliver their stock to customers. It focuses on delivering foods and other consumer goods from supermarkets.
The company claims to have signed up of more than 3 million drivers across more than 300 Chinese cities to its platform, and to have attracted…
