SHENZHEN, China, Aug. 9, 2018, – Walmart (NYSE:WMT) today announced it has made a further investment in Dada-JD Daojia of approximately US$320 million. The move follows a $50 million investment in Dada-JD Daojia in October 2016 and, through an extension of Walmart’s commercial agreement with the company, further strengthens Walmart’s omnichannel offering for customers in China. With the investment, Walmart deepens its relationship with Dada-JD Daojia and will hold a 10 percent stake in the entity and a board seat.
Dada-JD Daojia is China’s leading on-demand logistics platform and online-to-offline (O2O) e-Commerce platform, serving millions of customers in key cities across China. Walmart has worked in close collaboration with Dada-JD Daojia over the past two years and currently offers a fast one-hour delivery service from almost 200 Walmart stores in 30 cities through the JD Daojia platform, and the company sees great potential to provide customers with even more convenient access to Walmart and Sam’s Club’s services.
President and CEO for Walmart China Wern-Yuen Tan commented, “Walmart is committed to bringing a seamless online and offline shopping experience to our customers all around the world. In China, we are constantly innovating to improve our customers’ shopping experiences. By working with strong partners, and investing in digital capabilities, we will create easier and more convenient shopping experiences for customers. We are confident that this deeper collaboration with Dada-JD Daojia will enhance our omni-channel footprint and deliver a better O2O customer experience.”
Founder and CEO of Dada-JD Daojia Philip Kuai said, “Dada-JD Daojia is dedicated to facilitating online and offline integration in retail and to partnering with world-class retailers like Walmart to further improve efficiencies and sales through tailor-made solutions to better and more fully serve our customers. After this round of equity financing, Dada-JD Daojia will continue to collaborate with retail partners and improve supply chain efficiency via technology. We will constantly optimize and improve user experience and fully satisfy customers’ instant shopping needs.”
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, nearly 265 million customers and members visit our more than 11,200 stores under 55 banners in 27 countries and eCommerce websites. With fiscal year 2018 revenue of $500.3 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.
