Alibaba is raising the stakes in logistics industry
Alibaba aims to push up the efficiency of the logistics delivery service and push down the incurred costs. It recently scooped up a 14.65% stake in Shenzhen-listed logistics company STO Express, in exchange for voice and power within the company. According to Alibaba’s spokeswoman’s response to Technode, this investment is a step forward in Alibaba’s pursuit of its goal of 24-hour delivery anywhere in China and 72 hours globally. Holding minority stakes in three of the country’s top logistics companies, the e-commerce giant is now equipped with reliable implementation teams and first-hand data, and so a renovation of the industry can be just a matter of time.