Alibaba’s Cainiao Logistics Confirms First Financing At $7.7B Valuation

Alibaba-backed logistics company Cainiao has sealed their first-ever funding round from a consortium including Singapore’s Temasek Holdings and GIC Pte Ltd, Malaysia’s Khazanah Nasional Bhd, and China’s Primavera Capital, according to the Chinese e-commerce giant.

Alibaba did not disclose the size of this financing round. Local finance media Caixin reported the round is over 10 billion yuan ($1.54 billion) at a 50 billion yuan ($7.7 billion USD) valuation. Technode reached out to Alibaba to verify these figures, but the spokesperson declined to comment on funding details.

The involvement of foreign investors may underline the company’s overseas expansion plans.

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom