Alibaba invests in 21st Century Media Group

Alibaba Group and three other domestic companies have invested 500 million yuan (US$80.4 million) in 21st Century Media Group.

The deal means Alibaba now owns 20 percent of 21st Century Media Group. Alibaba earlier this year purchased a 16.5 percent stake in online video streaming site Youku Tudou Inc to boost its position in the online entertainment sector.

21st Century Media Group owns publications like 21st Century Business Herald, 21st Century Business Review and 21st Century Business Online. Elsewhere, Alibaba today teamed up with China Post to strengthen its logistics capabilities.

The two parties will deepen collaboration in a number of areas including finance and information security. They'll also share each other's dispatch and warehouse network to cut delivery costs for e-commerce vendors and online shoppers.

They will also build a cross-border e-commerce service platform as demand for overseas online shopping rises.