Alibaba ups majority stake in Cainiao

Alibaba Group has invested $3.3 billion in Cainiao Smart Logistics Network, increasing the Chinese e-commerce giant’s stake in its shipping affiliate to 63% from 51%.

“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,” says Alibaba Group Executive Chairman and CEO Daniel Zhang.

“We are committed to supporting its ongoing development, to realising greater synergies throughout the entire Alibaba economy and accelerating digitisation of the logistics industry.”

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