Grocery delivery platform raises US$500m
Print Edition
China鈥檚 leading online grocery delivery platform, Dada-JD Daojia, yesterday announced the completion of its latest round of financing, raising a total of US$500 million from Wal-Mart and JD.com as Internet companies step up efforts to connect with offline retail outlets.
鈥淒ada-JD Daojia will deepen our partnership with leading retail partners and improve supply chain efficiency through technology upgrades following this new financing,鈥 Dada-JD Daojia founder and CEO Philip Kuai said. 鈥淲e will continue improving the user experience as we work to fulfil all the on-demand shopping needs of our customers.鈥
Currently it connects with 100,000 retail stores and it provides one-hour delivery of fresh fruit and vegetables, groceries, flowers, baked goods and pharmaceutical products to users in more than 40 cities.
Wal-Mart said it will invest a further US$320 million in Dada-JD Daojia, which is an extension of a US$50 million investment made in October 2016. Wal-Mart will raise its stake to 10 percent and will also hold a seat on the board.
Dada-JD Daojia鈥檚 partnership with Wal-Mart dates back to December 2016, when the two companies agreed to explore strategic opportunities in omni-channel e-commerce.
Over the past two years, Wal-Mart has made a remarkable breakthrough in online sales with JD Daojia. About 200 Wal-Mart stores in 30 cities are connected with JD Daojia鈥檚 delivery network.
China鈥檚 largest e-commerce group, Alibaba, is also stepping up efforts in the online-to-offline delivery realm.
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