Alibaba, Singapore Post in joint venture for ecommerce logistics

Wednesday 9 July 2014 14:29 CET | News

Singapore Post (SingPost) has entered a joint venture with the investment division of Chinese ecommerce company Alibaba Group, reports.

According to the terms of the agreement, Alibaba is investing USD 312 million for a minority stake in the postal service. The initiative is part of the players` initiative to develop ecommerce logistics.

Alibaba has also partnered Singapore Post in order to gain access to the latter’s international delivery networks as well as solutions for Alibaba Group’s merchants and customers, the same source reports.

The terms of the agreement are to be finalized in the near future, covering the overall shape of the joint venture in regards to the international ecommerce logistics.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Alibaba, SingPost, venture, ecommerce, logistics, ecommerce, cross-border, online payments, delivery network
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce