Comment on Alibaba Acquires 10.35% Stake in Singaporean Logistics Company SingPost by Alibaba’s Cainiao Logistics Confirms First Financing At $7.7B Valuation | Big Box of Money

['Tracey Xiang', 'More Tracey Xiang', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-05-28 00:00:00

Alibaba Group announced today it has acquired 10.35% stake in Singapore Post Limited (SingPost) for S$312.5 million（US$249mn）, through Alibaba Investment Limited. The two companies will further negotiate a joint venture for e-commerce logistics. The Chinese e-commerce giant has been actively expanding to overseas markets recently. Alipay, the online payments solution by Alibaba, has been available on foreign e-commerce sites, such as Korean LOTTE, Japanese Rakuten, Yahoo! The company has taken a stake in the logistics arm of Haier, a leading home appliance company in China.