Alibaba to invest US$100 million in Indian logistics firm

China/India, 1st January: Alibaba Group, the leading e-commerce company in China and indefatigable investor, will invest up to US$100 million in XpressBees, an Indian logistics company. The exact size of Alibaba’s stake has not been disclosed.

 

XpressBees is a logistics business spun out of FirstCry, a baby and maternity products retailer. FirstCry entered the logistics segment in 2012 and was spun off as Busybees in September 2015.