Dada-JD Daojia, which is a Chinese online grocery delivery firm, has raised an amount of US$500 million from one of the largest investor that is U.S. retailer Walmart and Chinese Ecommerce delivery giant JD.com in its latest round of financing, according to a press release which is issued by a company.
Both the investors like Walmart and JD.com have deep strategic and business synergies with Dada-JD Daojia. This new round of investment not only fully recognizes the effectiveness of its unbound retail practices, but also paves the way for the three parties to further explore unbound retail. At present, 200 Walmart stores in 30 major Chinese cities.
The company was founded in the year 2016, Dada-JD Daojia provides one-hour delivery services of groceries and all other items which also include the household things. It was formed from the merger of JD Daojia, which is JD.com’s online-to-offline business, and Dada Nexus, which is a large crowd-sourcing delivery platform based out of China with its operationas in having more than 400 major cities.
Walmart invested around US$320 million in the latest fundraising. The Arkansas-based company’s partnership with Dada-JD Daojia dates back to 2016 with an investment of more than US$50 million. At present, 200 Walmart stores in 30 major Chinese cities have a presence on JD Daojia.
“Dada- JD Daojia has always been committed to promoting online and offline integration of retail industry, through customized solutions and cooperation with a large number of world-class retailers such as Walmart,” said Kuai Jiaqi, founder and CEO of Dada-JD Daojia.
“After this round of financing, Dada- JD Daojia will continue to cooperate with excellent retail partners, improve the efficiency of the entire link based on technical means, and continuously optimize and enhance the user experience, in order to fully meet the immediate shopping needs of consumers,” he added.
Another strategic JD investor is Tencent, and that relationship has helped the e-commerce firm sell direct to customers through Tencent’s WeChat app, which is China’s most popular messaging service. Tencent and JD have co-invested in a range of companies in China, such as discount marketplace Vipshop.
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