- Companies
- Cainiao Logistics
Cainiao Logistics Acquisition, Valuation, Funding & Investors
Cainiao Logistics was acquired by Zelos for $2B in January 2026.
Cainiao Logistics revenue
$680M
Strategic investment · Nov 2019
Cumulative funding Cainiao Logistics raised
$4.9B
across 2 funding rounds
Key investors in Cainiao Logistics
Temasek
GIC
Alibaba Group
YF Capital
Primavera Capital Group
Khazanah Nasional
About Cainiao Logistics
Cainiao Logistics is a Hangzhou-headquartered smart logistics network operated by Alibaba Group, managing over 100 warehouses and 3,000 delivery stations in China. It provides end-to-end supply chain services, including parcel sorting at hubs processing 1 million packages hourly and real-time tracking via its platform. Founded in 2013 by Shen Guojun, Cainiao serves e-commerce giants like Taobao and international expansion into Southeast Asia.
Founded
2013
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Services, Subscription
Revenue
$680M (Nov 2019)
Valuation
$53B (Nov 2019)
Cainiao Logistics Acquisition
Cainiao Logistics was acquired by Zelos for $2B on 29 January 2026.
Before the acquisition Cainiao Logistics had raised $4.9B across 2 funding rounds.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 29 Jan 2026 | Strategic M&A | $2B |
Cainiao Logistics Valuation
Cainiao Logistics is currently valued at $53B, based on its strategic investment round in November 2019.
The $3.3B round was led by Alibaba Group.
Cainiao Logistics' valuation has grown 6.8x from $7.7B at its Series A in March 2016 to $53B in November 2019, across 2 priced rounds.
Cainiao Logistics valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2019 | Strategic investment | $53B | 77.2x |
| Mar 2016 | Series A | $7.7B | 0.5x |
Cainiao Logistics Revenue
Cainiao Logistics' latest recorded revenue is $680M, as of its strategic investment round in November 2019. At a $53B valuation, that implies a 77.2x revenue multiple.
Revenue moved from $14B in March 2016 to $680M in November 2019, while the revenue multiple moved from 0.5x to 77.2x.
Cainiao Logistics revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2019 | $680M | $53B | 77.2x | Strategic investment |
| Mar 2016 | $14B | $7.7B | 0.5x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Cainiao Logistics Funding History
Cainiao Logistics has raised a total of $4.9B across 2 funding rounds.
Cainiao Logistics' first fundraising round was a $1.5B Series A in March 2016. The most recent completed round was a $3.3B strategic investment round in November 2019.
Cainiao Logistics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2019 | Strategic investment | Alibaba Group (lead) | $3.3B | $53B | Cainiao Logistics, Alibaba's logistics affiliate founded in 2013, received a $3.3 billion (23.3 billion yuan) investment from Alibaba Group on November 8, 2019, increasing Alibaba's ownership from 51% to 63% through new share issuance and purchase from another shareholder. This implies a post-money valuation of approximately $9.1 billion USD, as the investment represented about 12 percentage points of equity. In the quarter ended September 2019 (just before the round), Cainiao reported $680 million in revenue, supporting Alibaba's e-commerce platforms like Taobao and Tmall by matching riders, deliveries, and warehouses. Other shareholders include Intime Group, Fosun Group, and various logistics firms. Alibaba had previously increased its stake to 51% in 2017, committing over 100 billion yuan to logistics expansion over five years. |
| Mar 2016 | Series A | GIC (lead); Temasek (lead); YF Capital; Primavera Capital Group; Khazanah Nasional | $1.5B | $7.7B | Cainiao Logistics, Alibaba's logistics affiliate founded in 2013 with partners including Fosun, Intime Retail, and Chinese express firms like SF Express and ZTO, completed its first funding round on March 14, 2016, from investors GIC, Temasek Holdings, Khazanah Nasional, Primavera Capital, and others. The round, reported by Caixin as over 10 billion yuan ($1.54B) raised, valued the company at 50 billion yuan ($7.7B USD). Alibaba held about 48% stake post-initial setup. Cainiao operates a logistics data platform connecting providers, warehouses, and couriers, handling 70% of China's express packages across 2,800 counties and 224 countries. It facilitates efficiency without owning delivery fleets, supporting Alibaba's e-commerce growth amid rising logistics needs (16% of China's 2015 GDP). Funds will expand warehouses, cross-border services, and rural delivery. CEO Tong Wenhong highlighted logistics as China's next growth focus post-e-commerce, with plans for an eventual IPO. The company had 700 employees by mid-2015 and over 1.7 million delivery personnel on platform. |
Who has invested in Cainiao Logistics?
6 investors have backed Cainiao Logistics across its funding rounds, including Temasek, GIC, Alibaba Group, YF Capital, Primavera Capital Group and Khazanah Nasional.
Lead investors include Alibaba Group, GIC and Temasek.
Cainiao Logistics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Mar 2016 | ||
| 1 | Participant | Mar 2016 | ||
| 1 | Lead | Mar 2016 | ||
| 1 | Participant | Mar 2016 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Cainiao Logistics
Cainiao Logistics has acquired 1 company to date.
Last acquisition by Cainiao Logistics was on October 11th 2019. Cainiao Logistics acquired Alog for undisclosed valuation.
Latest Acquisitions by Cainiao Logistics
| Description | - |
| HQ Country | |
| HQ City | - |
| Deal Date | 11 Oct 2019 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Cainiao Logistics acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by Cainiao Logistics
Cainiao Logistics has invested in 9 companies to date.
Latest investment by Cainiao Logistics was on July 1st 2023. Cainiao Logistics invested in Robosense in their $166M Series G round.
Latest Investments by Cainiao Logistics
| Description | Robosense Technology Co Ltd is a company whose business is focused on full-stack systems incorporate LiDAR sensors, proprietary system on a chip and cutting-edge perception software. By integrating hardware and software, companies have differentiated themselves from LiDAR companies in the market who only focus on hardware. Combined with visual or other sensors, LiDAR forms perception solutions that endow automobiles and robots with perception capabilities. Comapny develop its solutions based on chipdriven LiDAR hardware and AI perception software, expanding application scenarios and realizing large-scale commercialization in the industry. | Worldwide Logistics Group is a Shanghai-headquartered 5A-rated logistics enterprise in China offering full container load shipments, less-than-container load consolidations, bulk cargo transport, air freight trunk lines, multimodal land transport via rail, highway, and waterway, plus specialized chemical logistics with tank containers and dangerous goods handling. The firm also provides engineering project logistics for oversized cargoes. Operating nationwide with international reach to Europe, North America, and Southeast Asia, it holds certifications for ISO quality and safety standards. | Gogox Holdings Ltd is an online platform for intra-city logistics services in Asia. The company operates two brands in this space, namely Kuaigou Dache in mainland China and GOGOX in other Asian countries and regions. The company's reportable segments are divided into Chinese mainland operations, and Hong Kong and overseas operations. The group operates in over 370 cities across six countries and regions including the Chinese mainland, Hong Kong, Singapore, South Korea, India, and Vietnam. | Kaxing Tianxia is a Chinese online trading platform tailored for small and medium-sized logistics enterprises. Hosted at kxtx.cn, it connects providers for freight services, bidding, and supply chain matchmaking. | |
| HQ Country | |||||
| HQ City | Shenzhen | Shanghai | Hong Kong | Shanghai | |
| Deal Date | 1 Jul 2023 | 18 Oct 2021 | 13 Jul 2021 | 11 Jan 2019 | |
| Round | Series G | Undisclosed stage | Undisclosed stage | Series A | |
| Raised | $166M | $265M | $100M | $7M | |
| Investors | Xiaomi; Geely; Haitong Capital | COSCO SHIPPING; Sinovation Ventures; Yunqi Partners | BOCOM Intl Hldgs Co; InnoVision Capital; Alibaba Group; 58.com; Cyberport Macro Fund; Qianhai Fund of Funds | Hidden Hill Capital | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Cainiao Logistics investments and their VC round multiples. Start Free Trial | |||||
Cainiao Logistics Competitors
Cainiao Logistics competitors include listed companies like Transfar Zhilian Co and Delhivery, and private ones like Forto, Loggi, EasyPost and Xpressbees.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2.1B | - | ||
| Publicly listed | $3.7B | $258M | $1.9B | 1.3x | ||
| Private | - | - | $1.8B | - | ||
| Private | - | - | $1.5B | - | ||
| Private | $271M | - | $1.4B | 5.2x | ||
| Publicly listed | $1.1B | $80M | $3.4B | 2.7x |
Cainiao Logistics Public Comps
Cainiao Logistics is no longer listed, but its public comps include Hub Group, Xinhua Winshare, Alexandria Containers and Goods, GigaCloud Technology, Karooooo, Transfar Zhilian Co, STEF, Werner Enterprises, Flex LNG and Mullen Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.9B | $333M | 0.6x | 0.7x | 7.4x | 9.4x | |||
| $1.7B | $248M | 0.4x | 0.4x | 2.9x | 3.4x | |||
| $160M | $102M | 11.4x | 10.5x | 17.9x | 14.4x | |||
| $1.3B | $158M | 1.6x | 1.4x | 12.8x | 10.6x | |||
| $337M | $148M | 6.3x | 5.7x | 14.3x | 13.8x | |||
| $3.7B | $258M | 1.0x | 1.3x | 14.0x | 12.5x | |||
| $5.9B | $508M | 0.6x | 0.6x | 6.8x | 6.0x | |||
| $3B | $299M | 1.0x | 0.9x | 10.3x | 7.7x | |||
This data is available for Pro users. Sign up to see all Cainiao Logistics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cainiao Logistics
| When was Cainiao Logistics founded? | Cainiao Logistics was founded in 2013. |
| Where is Cainiao Logistics headquartered? | Cainiao Logistics is headquartered in Hangzhou, China. |
| Is Cainiao Logistics publicly listed? | No, Cainiao Logistics was acquired by Zelos in January 2026. |
| Who acquired Cainiao Logistics? | Cainiao Logistics was acquired by Zelos in January 2026. |
| How much was Cainiao Logistics acquired for? | Cainiao Logistics was acquired for $2B in January 2026. |
| What is Cainiao Logistics' valuation? | Cainiao Logistics was last valued at $53B in its strategic investment round in November 2019. |
| How much funding has Cainiao Logistics raised? | Cainiao Logistics has raised $4.9B across 2 funding rounds. |
| What was Cainiao Logistics' last funding round? | Cainiao Logistics' last funding round was a $3.3B strategic investment round in November 2019, led by Alibaba Group. |
| Who are Cainiao Logistics' investors? | Cainiao Logistics' investors include Temasek, YF Capital, GIC, Primavera Capital Group, Alibaba Group and Khazanah Nasional. |
| What is Cainiao Logistics' revenue? | Cainiao Logistics' latest recorded revenue is $680M (November 2019). |
| What is Cainiao Logistics' revenue multiple? | Cainiao Logistics' latest valuation implies a 77.2x revenue multiple ($53B valuation on $680M of revenue). |
| Which companies are comparable to Cainiao Logistics? | Companies comparable to Cainiao Logistics include Forto, Transfar Zhilian Co, Loggi, EasyPost, Xpressbees and Delhivery. |
| How many companies has Cainiao Logistics acquired? | Cainiao Logistics has acquired 1 company, including Alog. |
| How many companies has Cainiao Logistics invested in? | Cainiao Logistics has invested in 9 companies, including Robosense, Worldwide Logistics Group, Gogox Holdings, Kaxing Tianxia, Dianwoda, Gooday Shun, Quicktron Robotics and Best. |
| What was Cainiao Logistics' last investment? | In July 2023, Cainiao Logistics invested in Robosense's $166M Series G alongside Xiaomi, Geely and Haitong Capital. |
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