JD may list Dada-JD Daojia in the US Store
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Chinese e-commerce giant JD is considering a share listing in the US, according to a Reuters report.
The firm has entered into early-stage discussions with bankers about a deal that could raise US$500 million for the firm’s joint venture in the territory, Dada-JD Daojia.
According to Coresight Research, Dada-JD Daojia was created in 2016 through the merger of JD’s supermarket business and the crowdsourcing delivery service Dada Nexus, with a 10-per-cent stake owned by US retailer Walmart.
Dada-JD Daojia provides a one-hour professional delivery service for more than 74 million users, working with more than 5000 retailers including Walmart, Carrefour, Vanguard, Yonghui supermarket and Watsons.
The JV has already secured roughly the same amount in funding last year with investments from JD and Walmart.
JD itself has just come off a solid second quarter thanks to strong online sales in recent months.
Questions & Answers
Q.What is the primary function of Dada-JD Daojia?
What is the primary function of Dada-JD Daojia?
Dada-JD Daojia offers a professional one-hour delivery service to over 74 million users. It works with more than 5,000 retailers, including major names like Walmart and Carrefour, to facilitate these deliveries.
Q.Who are the original entities that merged to form Dada-JD Daojia?
Who are the original entities that merged to form Dada-JD Daojia?
Dada-JD Daojia was formed in 2016 through a merger between JD's supermarket business and the crowdsourcing delivery service Dada Nexus. This merger created the joint venture.
Q.Which US retailer holds a stake in Dada-JD Daojia, and how large is it?
Which US retailer holds a stake in Dada-JD Daojia, and how large is it?
US retailer Walmart owns a 10-per-cent stake in Dada-JD Daojia. Walmart is also one of the more than 5,000 retailers that Dada-JD Daojia works with for its delivery services.
Q.How much funding has Dada-JD Daojia previously secured, and from which investors?
How much funding has Dada-JD Daojia previously secured, and from which investors?
Dada-JD Daojia had already secured roughly US$500 million in funding last year. These investments came from its parent company JD and the US retailer Walmart.
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