Alibaba's Tainiao's Revenue and Growth Still Lagged Far Behind JD Logistics

Tainiao established in 2013 attracted an array of heavy-hitting backers, including Singapore sovereign investment GIC PTE Limited and Temisek Holdings PTE. Alibaba originally planned to float the unit in 2022, according to a Hong Kong investment banker who worked on Alibaba's Hong Kong listing. By comparison, fresh hippo has been faring well. One person close to the business told Tsai-Shin that the online grocer has managed to generate an operating profit for the past two quarters.