Alibaba financial report: Cainiao logistics a boon to…

Cainiao, the logistics subsidiary of Chinese e-commerce giant Alibaba, has completed a financing round worth RMB 10 billion (USD 1.5 billion), Alibaba's 2016 Q4 financial report confirmed on Thursday. Alibaba says it will hold 47%…

Alibaba-backed logistics site rumored to close financing

[caption id="attachment_6504" align="aligncenter" width="600"] Photo from ifeng.com[/caption] Rumors are proliferating that Alibaba's subsidiary Cainiao will soon close its first round of financing, mainland media outlets reported on Tuesday. Sina Tech quoted a source close to…