JD.com’s logistics business raises $2.5B from Hillhouse, Sequoia China and others

JD.com, the Chinese e-commerce giant that is Alibaba’s closest rival, is raising giving its logistics spin-out business a huge boost after it announced that the unit is raising $2.5 billion.

JD Logistics, which became a standalone business last April, is raising the investment capital from a range of backers who include Hillhouse Capital, Sequoia China, China Merchants Group, Tencent, China Life, China Development Bank Capital FOF, China Structural Reform Fund and ICBC International, according to a press release announced today.JD.com confirmed it will remain the majority sharehold...