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Alibaba invest additions $3.3 billion in Cainiao

17
Nov '19
Pic: Alizila
Pic: Alizila
Alibaba Group is making more investments – some $3.3 billion - to increase its equity stake in Cainiao Smart Logistics Network from approximately 51 per cent to approximately 63 per cent, by subscribing for newly issued Cainiao ordinary shares in its latest financing round and purchasing certain equity interest from an existing Cainiao shareholder.

Other existing shareholders also participated in the fundraising, demonstrating strong support for Cainiao’s long term outlook.

“Logistics is a key pillar of the Alibaba Business Operating System. It allows us to offer the best service to customers and to effectively advance our New Retail strategy. Cainiao strives to enhance service and user experience for merchants and consumers through superior technology and digital solutions, both within China and around the world. We are committed to supporting its ongoing development, to realising greater synergies throughout the entire Alibaba Economy and accelerating digitisation of the logistics industry,” said Daniel Zhang, Alibaba Group executive chairman and CEO.

The additional investment from Alibaba Group is a vote of confidence in Cainiao. With more financial resources, Cainiao will be able to continue its investment in technologies and logistics infrastructure services to strengthen its smart logistics network and enable innovations in business models, services and technological capabilities for the entire industry.

Cainiao is a global leader in technology-driven logistics and infrastructure. It has introduced IoT (Internet of Things) and smart supply chain solutions in the sector, along with algorithms and technologies to improve industry efficiency. It has also developed robust international and cross-border fulfillment solutions to facilitate Alibaba’s international e-commerce business, including Tmall Global, AliExpress and Lazada.

Fibre2Fashion News Desk (SV)


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