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The logistics division of JD.com, Alibaba’s closest e-commerce competitor in China, has raised 1.5 billion yuan (about $218 million) to invest in logistics-related companies and technology. Limited partners in the new fund include JD Logistics and JD.com, as well as undisclosed listed companies and government-led funds, reported Reuters.
JD Logistics, which became a standalone subsidiary in April 2017, has a lot to prove. The unit raised $2.5 billion last year from Hillhouse Capital Group, Sequoia Capital and Tencent, among other investors, in its first major outside funding at a valuation of about $13.5 billion and is also eyeing a potential public offering.
Months - JDcom - CEO - Richard - Liu
But two months ago, JD.com CEO Richard Liu said in an internal memo that JD Logistics would enact...
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