FT: Jack Ma quits as head of leading China business group
THE FINANCIAL TIMES reports: Alibaba co-founder Jack Ma has stepped down as president of an important ...
ID 73071152 © Shannon Fagan | Dreamstime.com
JD.com’s logistics division has bagged $218m in investment for logistics-related companies and technology. As Alibaba’s closest competitor in China, JD.com has a lot of work to do. JD Logistics became a standalone subsidiary in 2017, and Tech Crunch claims it may be eyeing a public offering in the near future with a valuation around the $13.5bn mark. In 2016, Alibaba’s logistics division, Cainiao, scooped its own investment but had a valuation a little over half of JD Logistics at $7.7bn. As for what the money is to be spent on, that appears to be under wraps at the moment, although this report suggests drone deliveries, logistics automation and smart vehicles may be potential avenues of spending.
Comment on this article