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JD.com raising $2B for logistics unit

Published 01/16/2018, 09:16 AM
© Reuters.  JD.com raising $2B for logistics unit
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  • JD.com (NASDAQ:JD) is raising $2B for logistics, Reuters reports, a move that makes its business model less asset-heavy, and closer to that of competitor Alibaba (NYSE:BABA).
  • The company is relying on Hillhouse Capital and Sequoia Capital China for a funding round values JD Logistics at $10B.
  • JD Logistics offers services from warehousing to packaging and last-mile delivery, including to third parties.
  • Shares are up 2% premarket in U.S. trading on Nasdaq.
  • Meanwhile, JD invested in Vietnamese e-commerce firm Tiki.vn, with an undisclosed sum that still makes it one of Tiki's biggest shareholders. The round was reportedly about 1T dong (some $44M).
  • Now read: China's Tech Revolution: Alibaba Dominates Online Retail


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