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Walmart Invests $50M In China’s Big Online Grocery Retailer

October 21, 2016: 12:00 AM EST
Just one day after Walmart and China’s JD.com revealed they would collaborate on three new online services, the U.S. retailer announced a $50 million investment in New Dada, the country's largest local on-demand logistics and grocery O2O e-commerce platform. The investment enables grocery delivery from certain Walmart stores. The earlier announcement focused on Sam’s Club and Global Imports stores on JD.com, and two-hour grocery delivery through New Dada, an independent joint venture of JD.com and Dada. New Dada has more than 25 million registered customers and provides local on-demand delivery in 300 cities in China. Walmart has 426 stores in 170 cities.
"Walmart Announces Strategic Investment in China’s largest on-demand logistics and O2O Grocery platform New Dada", News release, Walmart, October 21, 2016, © Wal-Mart Stores, Inc.
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