As a continuation of Walmart’s August acquisition of online shopper Jet.com for around $3.3 billion Walmart puts concrete efforts to be its own status among e-commerce giants. Amazon being a stiff competitor, Walmart is investing $50 million to acquire Chinese online grocery company New Dada, it announced on Friday. Finally with this big step the retail giant is leaping into the China’s economy which is the second largest in the planet.
Wal-Mart overlooked its China strategy in the beginning of this year when it sold its own e-com platform Yihaodian in exchange for a state in local e-com giant JD.com Inc. New Dada is a joint venture owned by JD.com. From a strategic point of view, Walmart’s investment in New Dada will help the shoppers of the company with instant deliveries in a much popular and highly competitive environment. At present, New Dada has over 25 million registered customers and deliveries in over 300 Chinese cities.
In an official press release, the CEO of Walmart Mr Mc Millon said that globally our company is working together to create fenceless shopping experiences that brings closer its stores, sites and apps to make shopping easier and faster. He added that their alliance with JD and cooperation with New Dada will enable seamless shopping to millions of customers across the Republic of China. He further told that combining New Dada’s unparalleled delivery network with Walmart stores means shoppers will definitely enjoy convenient access to a big range of high quality goods delivered to their door steps in record time.