Cainiao Network Planning to Raise More Funds

Cainiao Network is planning to have another round of fundraising, but it hopes that the money it has raised up until this point will be enough for the next year to 18 months. As the logistics arm of Alibaba Group Holding Ltd., Cainiao managed to hook investors such as Singapore’s Temasek Holdings and GIC Pte Ltd, Malaysia’s Khazanah Nasional Bhd, and China’s Primavera Capital. The value of this round was nearly $7.5 billion. As Chief Executive Judy Tong told a news conference, “In the future we will definitely raise money again. Cainiao is a very young company. It requires a lot of investment.”