ZCZC
BCN-33
CHINA-US-WALMART-JD
Chinese online grocer raises 500 mln USD from Walmart, JD
BEIJING, Aug. 11, 2018 (BSS/Xinhua) – Chinese online grocery and delivery
company Dada-JD Daojia has raised 500 million U.S. dollars from U.S. retailer
Walmart Inc and Chinese e-commerce firm JD, China Daily reported Friday.
In the latest round of financing for Dada-JD Daojia, Walmart invested 319
million dollars while JD invested 181 million dollars, according to the
report.
The online grocer, which is partly owned by JD, will “deepen its
partnership with leading retail partners and improve supply chain efficiency
via technology” after this round of fundraising, the report said.
Dada-JD Daojia comprises two businesses. Dada is an on-demand logistics
platform with operations covering more than 400 major cities across China. JD
Daojia has 20 million monthly active users in around 40 major cities across
China and provides an one-hour delivery service through partnering with
retail stores.
Online spending has expanded fast in China, with retail sales surging 30.1
percent year on year to reach 4.1 trillion yuan (603 billion U.S. dollar) in
the first half of this year, official data showed.
BSS/XINHUA/HR/1225