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.
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