Alibaba has increased its shareholding to 63%, having already acquired a majority stake in the logistics platform, also backed by Fosun and Intime Retail Group, two years ago.
China-based logistics services provider Cainiao Smart Logistics Network has received RMB23.3bn ($3.33bn) from e-commerce group Alibaba, TechCrunch reported on Friday.
Alibaba increased its stake from 51% to 63% through the investment, which included both newly issued shares and a secondary transaction of undisclosed size and involving an unnamed shareholder.
Cainiao was co-founded by Alibaba, which owned a 48% stake at launch, diversified conglomerate Fosun and retailer Intime Retail Group in 2013. TechCrunch said a range of logistics firms also owned…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
