Cainiao invests in Dianwoda
Alibaba’s logistics arm Cainiao has reportedly invested $290m in the Hangzhou-based logistic service provider Dianwoda.
According to reports in China’s media, the deal will make Cainiao the control stakeholder of the company.
Founding in 2015, Dianwoda provides delivery services for food and parcel. According to China Money Network, Dianwoda “connects more than three million deliverymen in over 300 cities in China. It serves more than one million stores and near 100 million users everyday.”
Alibaba has also participated in previous Dianwoda funding rounds.
Local media reported on Cainiao’s investment in Dianwoda last week. Today (19 July), an article on the semi-official Alizila webisite revealed that Alibaba has invested $1.43bn for a minority stake in the Chinese digital marketing company Focus Media. Amongst other things, Fpcus Media has digital advertising screens that can be seen on streets, in subways and in elevators across 300 Chinese cities.
