Grocery Platform Dingdong Cuts Losses to $172 Million

Online grocery platform Dingdong, which had its U.S. IPO last summer, pared losses by 12% in the final quarter of 2021, as the firm tried to control costs in its battle with better-funded rivals.

In the three months through December, Shanghai-based Dingdong Ltd. reported a net loss of 1.1 billion yuan ($172 million), according to its earnings report released on Tuesday.