Walmart, JD.com invest $500 million in Chinese online delivery company

Walmart and JD.com will invest $500 million in the Chinese online delivery company Dada-JD Daojia. The company was formed from the merger of JD.com’s JD Daojia online-to-offline business and Dada Nexus, the crowd-sourced delivery company. JD Daojia partners with retail stores to provide one-hour delivery services for groceries and other items, and Reuters estimates JD Daojia has about 20 million active users per month.

In related news, Walmart’s proposed acquisition of Indian e-commerce giant Flipkart received approval from the Competition Commission of India this week. Walmart announced it would acquire a roughly 77% stake in Flipkart for about US$16 billion in May.

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