<article><p>Dada-JD Daojia, a Chinese online grocery and delivery firm, said on Thursday it has raised $500 million from Walmart Inc and JD.com Inc in its latest round of financing.</p></article>

<p>Dada-JD Daojia, a Chinese online grocery and delivery firm, said on Thursday it has raised $500 million from Walmart Inc and JD.com Inc in its latest round of financing.</p>
<p>The company comprises of two businesses and is partly owned by JD.com. Dada operates a network of 5 million delivery men, while JD Daojia partners with retail stores and provides one-hour delivery services of groceries and other items.</p>
<p>Walmart said it invested about $320 million in the latest fundraising. The Arkansas-based company&#8217;s partnership with Dada-JD Daojia dates back to 2016 when it invested $50 million, the company said, adding that at present, 200 Walmart stores in 30 major Chinese cities have a presence in JD Daojia.</p>
<p>&#8220;We are confident that this deeper collaboration with Dada-JD Daojia will enhance our omni-channel footprint and deliver a better O2O (online to offline) customer experience,&#8221; said Wern-Yuen Tan, president and CEO for Walmart China.</p>
<p>The global retail giant has been pushing to integrate its retail network in China with the country&#8217;s burgeoning &#8220;smart retail&#8221; movement, as retailers and tech giants such as Alibaba Group Holding Ltd and Tencent Holdings Ltd cut deals to combine shoppers&#8217; online and offline experience.</p>
<p>Earlier this year, Walmart said it opened its first small-sized high-tech supermarket in the southern city of Shenzhen, which will stock products that customers will also be able to buy on the U.S. retailer&#8217;s store on JD Daojia. The stores are competing with Alibaba&#8217;s Hema to provide fast delivery of grocery to customers.</p>
<p>Alibaba is China&#8217;s top e-commerce player, while Tencent is strong in social media and gaming and has, along with Walmart, a considerable stake in number two online retailer JD.com.</p>
<p>Alibaba and Tencent have between them splashed over $10 billion on retail-focused deals, boosting their reach offline and meaning few brick-and-mortar sellers are left without an allegiance to one or the other.</p>
<h4>Reuters</h4>


Dada-JD Daojia, a Chinese online grocery and delivery firm, said on Thursday it has raised $500 million from Walmart Inc and JD.com Inc in its latest round of financing.

Chinese online grocer Dada-JD Daojia raises $500m from Walmart, JD.com

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Chinese online grocer Dada-JD Daojia raises $500m from Walmart, JD.com

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