09-Aug-18, South China Morning Post
Logistics services company Dada-JD Daojia has raised USD500 mn from existing backers JD.com and Walmart to quicken the growth of its delivery network across China.
%20South%20China%20Morning%20Post.jpg "Walmart JD dot com invest USD500 mn in Chinese logistics (c) South China Morning Post")
Image: South China Morning Post
Dada operates a network of 5 mn delivery men, while JD Daojia partners with retail stores and provides one-hour delivery services of groceries and other items.
Walmart said it invested about USD320 mn in the logistics services company's latest fundraising. The Arkansas-based retail giant's partnership with Dada-JD Daojia dates back to 2016 when it invested USD50 mn.