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BUSINESS & TECH

Alibaba’s Cainiao Buys Control of Dianwoda

Alibaba’s Cainiao has stepped up expansion of its delivery network. Photo: VCG
Alibaba’s Cainiao has stepped up expansion of its delivery network. Photo: VCG

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.

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