Dada-JD Daojia has raised $500 million from existing backers JD.com Inc.and Walmart Inc. to quicken the growth of its delivery network across China.
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The logistics company said it intends to use the funds to invest in supply chain technology and serve merchants on its platform, which connects scooter-riding drivers in about 400 cities with about 1.2 million online merchants and delivers everything from packages to groceries. Walmart’s Chinese-based supermarkets are one of Dada-JD Daojia’s key clients.
Shoppers exit a Wal-Mart Stores Inc. store in Princeton, Illinois, U.S., on Wednesday, March 16, 2011. More than 100 Wal-Mart Stores Inc. workers paint a similar picture in sworn complaints about the company: Local managers made sexist decisions about promotions and pay, and top officials did nothing to stop them. Photographer: Daniel Acker/Bloomberg
Daniel Acker/Bloomberg
Formed when JD merged certain business assets with Dada Nexus Ltd., the company is distinct from JD’s own logistics operations in that it mostly relies on freelance couriers. It’s a key cog in a battle with Alibaba Group Holding Ltd. that sends millions of riders onto Chinese streets daily. At peak times, Dada-JD Daojia says it delivers 1 million orders per day, and its platform also acts as a shopping portal that promises delivery within an hour of orders.
“Dada-JD Daojia will deepen our partnership with leading retail partners and improve supply chain efficiency via technology,” Chief Executive Officer Philip Kuai said in a statement.
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