Sina Tech, 8/03/17
Alibaba Group's (NYSE: BABA) B2C e-commerce site Tmall announced today that it has invested USD 300 mln in Shanghai-based Yiguo E-Commerce, operator of online and mobile fresh food retail platform Yiguo.com. Yiguo will be further integrated into Tmall, providing an overall boost to the development of Tmall's online supermarket channel Tmall Supermarket. The funding will mainly go towards building and expanding Yiguo's cold chain logistics infrastructure.
Yiguo currently has 11 cold chain logistics bases established in 10 major cities, including Beijing, Shanghai, Guangzhou, Hangzhou, Wuhan, Chengdu, Xi'an, Shenyang, Jinan, and Fuzhou. Same-day delivery is available in Beijing, Shanghai, Guangzhou, and Chengdu, while next-day delivery is available in over 200 other cities.
Editor's Note: For more information on this topic, please see "Fresh Produce E-tailer Yiguo Lands Series C+ Funding," MD 11/09/16 issue.