Cainiao Network, (“Cainiao”), the logistics arm of Alibaba Group Holding Limited, was ranked 10th place on Hurun Research Institute’s Global Unicorn Index 2023, and is the only logistics company to be placed in the top 10 list this year. Cainiao emerged as the 10th best performing unicorn in the world with an estimated valuation of US$27 billion, a US$8 billion increase from the company’s pre- pandemic valuation. This year’s top 10 unicorns list make up 17 percent of the total value of the world’s unicorns, and is testament to Cainiao’s achievements and success in the logistics sector.

Hurun is a research, media and investments group, promoting entrepreneurship through its lists and research, and is widely regarded as an opinion-leader in the world of business. Hurun Research Institute’s Global Unicorn Index serves as an insight into the markets of tomorrow, by listing out the world’s most successful startups that are transforming the economy and society through financial services, business management solutions, and healthcare. Companies were evaluated based on their valuation from 31 December 2022 to the release date of the index.

“We are honored to be recognised as one of the world’s top 10 unicorns in Hurun Research Institute’s 2023 Global Unicorn Index,” said Ding Hongwei, Vice President of Cainiao Network. “This award is testament to the dedication we have towards the establishment of a global smart logistics network, and the commitment to further deepen capabilities in global express logistics services to meet the needs of merchants, partners and customers. With a robust global logistics network, we are well positioned to drive industry-wide digitalization.”

As a leading global logistics company, Cainiao is committed to championing quality service to enhance the customer experience and drive industry-wide digitalization since it was first founded in 2013. Leveraging a strong digital foundation, robust partner ecosystem, and courier network, Cainiao’s innovations and unique efforts spanning smart logistics, green supply chains, and rural revitalization have enabled it to bring about an industry-wide transformation and overall uplift in global trade for businesses both large and small. This February, it announced its financial results for the quarter ended December 31, 2022, with a 27 percent year-on-year growth to US$2.4 billion.