Wal-Mart to Invest $50 Million in China’s Online Grocery Platform New Dada
Walmart today announced a $50 million strategic investment in New Dada, China’s largest local on-demand logistics and grocery O2O ecommerce platform. The investment is an extension of Walmart’s broader agreement with JD.com and cooperation with New Dada, which includes using New Dada’s network to offer customers two-hour delivery on groceries ordered from Walmart stores through the JD Daojia Dada app.Wal-Mart shifted its China strategy earlier this year when it sold its own online platform Yihaodian in exchange for a stake in local e-commerce giant JD.com Inc. New Dada is a joint venture part-owned by JD.com.
The two-hour delivery service is available to customers within a 3km radius of more than 20 Walmart stores that are currently part of the program. The number of Walmart stores offe...