News

Walmart pumps in USD 50 mln in Chinese retailer New Dada

Tuesday 25 October 2016 13:26 CET | News

Walmart has recently injected USD 50 million into the Chinese online grocery and delivery firm New Dada, as part of a joint strategic cooperation in the local market.

With the cooperation, the two parties will integrate their respective O2O delivery, logistics, and retail strengths to provide Chinese consumers with better quality products and more convenient delivery services, chinaretailnews.com reports.

New Dada is a joint venture part-owned by JD.com. It currently owns the instant crowdsourcing logistics platform Dada and the fresh food and grocery O2O platform Jingdong Daojia. The company serves over 500,000 vendors in more than 300 cities and it reached cooperation with over 30,000 supermarket and pharmacy stores in 18 cities.

At present, Wal-Mart has over 420 supermarkets in nearly 170 cities across China and the cooperation of the two parties will realize complementary advantages. In the future, Wal-Marts physical stores in China will form an exclusive partnership with Jingdong Daojia. So far, Wal-Marts 20+ stores in Guangzhou and Shenzhen have accessed the platform of Jingdong Daojia and all of their orders will be delivered by Dada. This service will soon be extended to cities like Beijing, Shanghai, Chengdu, and Wuhan.

Kuai Jiaqi, chief executive officer of New Dada, said that with the cooperation, New Dadas leading O2O platform and crowdsourcing delivery service will become a bridge to connect online consumers and offline Wal-Mart stores, which will offer better quality products and service to more users.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Walmart, retail, online sales, investment, China, New Dada, ecommerce, merchants, expansion
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce






Industry Events