Alibaba, Yunfeng back China’s YTO Express
Alibaba Group has teamed up with Yunfeng Capital to acquire a minority stake in Shanghai YTO Express, a Chinese logistics service provider. Financial terms were not disclosed.
YTO Express is one of 14 logistics partners in Cainiao Network Technology, a logistics network formed by Alibaba in May 2013. It aims to build a nationwide platform that connects delivery companies, warehouses...
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