Comment on Alibaba Officially Launches the CSN Logistics Program by Alibaba’s Cainiao Logistics Confirms First Financing At $7.7B Valuation | Business Brain Food

['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 2013-05-28 00:00:00

Alibaba Group and its partners today officially initiated the China Smart Logistic Network, or CSN, a logistics program aiming to support 30 billion yuan ($4.9 billion) worth of daily transactions in five to eight years. That’s 10.9 trillion yuan annually. In 2012, annual sales on Taobao and Tmall was over 1 trillion yuan. Alibaba is the biggest share holder, holding 43% of it with 2.15 billion yuan in investment, and Yintai takes 32%, as reported. The first investment will be 100 billion yuan ($16 billion) and the second will be 200 billion yuan.