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Cainiao Smart Logistics Network will take a 51 percent stake in the joint venture.
The investment would be Alibaba’s third in a Chinese courier after it bought minority stakes in YTO Express and Best Inc.
The deal was brokered by Pony Ma, chief executive of Tencent Holdings, a backer of both companies.
Didi had raised $4 billion in December to support its overseas expansion. It is facing new challengers at home with several firms including Tencent-backed Meituan-Dianping announcing plans to launch ride-hailing services.
Okay Airways plans to eventually launch routes to Europe and America and believes that having a foreign airline as a shareholder will aid that goal.
Didi said it had reached a cooperation agreement with Chinese bike-sharing firm Bluegogo, which will be hosted on its platform.
LeEco has repaid part of this debt after selling shares in its smartphone affiliate Coolpad Group.
The transaction marks the fourth funding round for Hellobike that merged with Youon Ditan, a Changzhou Youon Public Bicycle System-affiliate, in October.
Qihoo 360 was listed in the US in 2011 until its privatization last year by a consortium led by its CEO and founder, Zhou Hongyi, for about $9.3 billion.
COSCO Shipping said it would undertake a private placement to fund the building of 20 container ships.