Alibaba & Cainiao invest in ZTO

ZTO and Alibabba

HANGZHOU – Chinese e-commerce powerhouse Alibaba and its logistics arm Cainiao have agreed to invest $1.38 billion in exchange for an about 10 percent equity stake in delivery company ZTO Express.

The agreement, announced on Tuesday, will see Cainiao and ZTO deepen their collaboration in the transformation of China’s logistics industry, Alibaba said in a press release.

Leave a Reply

Your email address will not be published. Required fields are marked *