Alibaba’s Cainiao Buys Control of Dianwoda
Cainiao Network Technology Co., the logistics arm of Alibaba Group, invested $290 million to take control of domestic logistics service startup Dianwoda in another move to expand its delivery capacity.
The deal followed Cainiao and Alibaba’s investment in the $1.38 billion funding round of leading delivery company ZTO Express in May. Cainiao in June also announced a partnership with Emirates SkyCargo, the freight division of Emirates, to jointly develop a logistics hub in Dubai.
- 1Renowned Stanford Physicist Shoucheng Zhang Dies at 55
- 2Why Former Australian Leader Believes China is About to Outflank Trump on Trade
- 3China: Meng Wanzhou is a Chinese Citizen
- 4Update: Huawei CFO Arrested for Allegedly Violating U.S. Sanctions on Iran
- 5Arrested Huawei Executive Reportedly Linked to Firm That Once Tried to Sell U.S. Goods to Iran
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas