Dada-JD Daojia fund

Source:Reuters Published: 2018/8/9 22:18:42

Dada-JD Daojia, a Chinese online grocery and delivery company, said on Thursday it has raised $500 million from Walmart Inc and JD.com Inc in its latest round of financing.

The firm has two businesses, and it is partly owned by JD.com. Dada runs a network of 5 million delivery staff, while JD Daojia works with retail stores and provides one-hour delivery for groceries.

Walmart said it invested about $320 million in the latest fundraising. The US-based company's partnership with Dada-JD Daojia dates back to 2016 when it invested $50 million, the company said.

At present, 200 Walmart stores in 30 major Chinese cities have a presence in JD Daojia.

Posted in: COMPANIES

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