Cainiao Continues Expansion With $290m Investment In Chinese Logistic Firm Dianwoda – China Money Network
E-commerce giant Alibaba Group Holding Ltd’s logistic arm Cainiao Network has made a strategic investment of US$290 million in Hangzhou-based logistic service provider Dianwoda to become its controlling shareholder, according to Dianwoda’s announcement. The deal came after Cainiao and Alibaba led a US$1.38 billion investment in Chinese express delivery company ZTO Express in May. Last year, Cainiao also joined SB China Venture Capital (SBCVC) to lead a RMB200 million (US$29 million) series B round in Flahshold, a Shanghai-based logistic robotics company. … Cainiao Continues Expansion With $290M Investment In Chinese Logistic Firm Dianwoda appeared first on China Money Network.