Walmart to invest US$ 50 million in Chinese online grocery and delivery firm New Dada

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Walmart has announced a US$ 50 million strategic investment in New Dada, China’s largest local on-demand logistics and grocery O2O e-commerce platform. The investment is an extension of Walmart’s broader agreement with 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.
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 offering two hour delivery is expected to double by the end of the year.
New Dada an independent joint venture of and Dada, boasts more than 25 million registered customers and provides local on-demand delivery capabilities with 2.5M crowd-sourced deliverers across more than 300 cities in China. Walmart has 426 stores in nearly 170 cities.
READ MORE: Walmart raises stake in China’s to 10.8 pc
The investment in New Dada will help Walmart target Chinese shoppers with faster delivery times in a popular but fiercely competitive online grocery market. New Dada has over 25 million registered customers and delivers in over 300 Chinese cities.

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