Alibaba logistics arm raises funds from Temasek, Khazanah, GIC & Primavera

Alibaba Executive Chairman Jack Ma attends the opening ceremony of the second annual World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China, December 16, 2015. REUTERS/Aly Song/Files

The logistics arm of Alibaba Group Holding Ltd has completed a funding round, China’s biggest e-commerce company said on Monday.

Investors in the funding round of Cainiao include Singapore‘s Temasek Holdings and GIC Pte Ltd, Malaysia’s Khazanah Nasional Bhd, and China’s Primavera Capital, Alibaba said in a statement.

Alibaba did not disclose details of how much money Cainiao raised, whether it issued equity shares, or at how much the logistics unit is now valued.

This is Cainiao’s first funding round since Alibaba founded it three years ago, the company said. Then, Alibaba and a group of Chinese logistics companies said they would spend 100 billion yuan ($15.40 billion) over five to eight years to develop a national logistics network.

It was not immediately clear whether Cainiao has already spent the 100 billion yuan money. An Alibaba spokesman declined to comment.

Alibaba is seeking to take a lead role in developing China’s fragmented package delivery industry, as e-commerce spreads beyond urban hubs and requires a more robust logisticsnetwork. In partnership with delivery businesses, Cainiao crunches reams of data on everything from order trends to delivery routes and weather patterns to increase efficiency.

The Chinese e-commerce giant said it would work with investors to further build out its “big data logistics network”.

China’s dominant e-commerce company has been fighting off stiff competition from smaller rival JD.com Inc, whose loss-making business model prioritises controlling a large logistics network, like Amazon.com Inc’s.

Also read:

China’s Alibaba signs $3b five-year loan deal to support acquisition spree

 

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.