JD.com’s E-Commerce Unit Nets $500 Million in Fundraising
Dada-JD Daojia, the delivery and grocery e-commerce unit of JD.com Inc., has announced it has completed a $500 million fundraising round from its parent company and U.S. supermarket chain Walmart Inc.
Dada-JD Daojia didn’t say in a statement on Thursday how the $500 million was divided between the two investors.
Dada-JD Daojia was formed in April 2016 when JD.com, China’s second-largest e-commerce company, merged JD Daojia into Dada — a short-distance logistics provider — to take a 47% stake in the merged company. The JD Daojia platform has more than 50 million registered users, and Dada served more than 1.2 million merchants across the country, according to the company.
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