Under the partnership, Alibaba Group and China Post will collaborate on logistics, ecommerce, finance and information security, jointly developing new business and new markets. The two will open up their warehouses, processing centers and delivery resources to each other, building an ecommerce logistics platform that will serve third-party couriers in China.
Founded in 1999, Alibaba is responsible for Tmall.com, AliExpress, Alibaba.com and Alipay. The company is preparing for an IPO in the US is valued at nearly USD 170 billion and is expected to be valued at USD 250 billion after it starts trading.
In recent news, Alibaba has revealed plans to take a 50% stake in Guangzhou Evergrande Football Club, for CNY 1.2 billion (USD 192 million).
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