Alibaba leads $1.4 bn investment in Chinese delivery firm
Alibaba along with a group of investors is leading a $1.38 billion investment in Chinese delivery service ZTO in exchange for 10% stake in the firm. The Alibaba-led investor group includes its own logistics arm Cainiao, the company said. The deal would be Alibaba's third investment in a Chinese courier after buying minority stakes in YTO Express and Best.