Walmart supplied the funding as part of a strategic partnership that will involve New Dada providing delivery services from the firm's Chinese stores.
Big box retailer Walmart made a $50m strategic investment yesterday in New Dada, a China-based grocery e-commerce joint venture between e-commerce firm JD.com and logistics services provider Dada.
New Dada operates a grocery e-commerce platform that uses crowdsourced workers to provide local on-demand delivery to users in more than 300 Chinese cities. It has a user base of more than 25 million registered customers.
The investment was announced the day after an agreement whereby New Dada will offer two-hour delivery…
