Walmart has entered into a definitive agreement to acquire Cornershop, Inc. for $225 million. Cornershop is a leading online marketplace for crowdsourced, on-demand delivery in Mexico and Chile and is rapidly building scale, with the number of unique users doubling in the past 12 months. Cornershop’s three founders, Oskar Hjertonsson, CEO; Daniel Undurraga, chief operating officer; and Juan Pablo Cuevas, chief technology officer, and their teams, will continue to lead the business.
Cornershop will remain an open platform that will continue to deliver from a variety of retailers, extending the convenience and availability of food, health & wellness and packaged goods for customers in Mexico and Chile. Closing of the transaction is subject to regulatory approval and is expected by the end of the year. For more information on this acquisition, please visit the Walmart de México website and the Walmart Chile website.
Information about other recent investments can be found in the Dada-JD Daojia press release and the Rakuten press release.
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