BEAMSTART Logo

Alibaba's logistics arm Cainiao launches $76.5m global open tender for partnerships

The move signals Cainiao's latest bid to build out a global logistics infrastructure, since Alibaba increased its stake to 63% in November.

  • The global open tender encompasses all key markets including North Asia, Southeast Asia, Europe, Middle East, Australia, New Zealand, and the US.
  • Its first financing was backed by investors including Singapore’s sovereign wealth fund GIC, Singapore state investor Temasek, Malaysia’s sovereign wealth fund Khazanah Nasional Bhd, and China-based Primavera Capital Group.
  • Cainiao, founded in May 2013, has developed into a platform of over 3,000 logistics partners and three million courier personnel.
  • The open tender covers both business-to-consumer (B2C) and business-to-business (B2B) services.
  • Hangzhou-based Cainiao also plans to select partners for its global fulfilment warehouse network to support overseas warehouse management, which includes storage and inventory management; quality inspection; picking and packing.

DEALSTREETASIA.COM14 Dec, 2020

ABOUT THE AUTHOR

Kenneth Ho

Founder & Director @ BEAMSTART. Just launched a VC fund to accelerate awesome startups.

BEAMSTART is a Global Community and News Portal for Entrepreneurship. We cover the latest news and bring together a global network of CEOs/founders, Investors, Business Leaders, and Professionals.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).