Walmart invests $50 million in Chinese online grocery and delivery company

walmart invests 50 million new dada feat
Following its August acquisition of online shopping marketplace Jet.com for $3.3 billion, Walmart is continuing its push to cement its status among e-commerce elites.

To compete with the likes of Amazon, WalMart Stores Inc. is investing $50 million in Chinese online grocery and delivery company New Dada, the retail giant announced Friday. With the move, Walmart further entrenches itself in China’s economy, the second largest in the world.

It’s also an extension of recent decisions the company has made in the Asian market, according to Reuters.

“Wal-Mart shifted its China strategy earlier this year when it sold its own online platform Yihaodian in exchange for a state in local e-commerce giant JD.com Inc.,” Reuters noted. “New Dada is a joint venture part-owned by JD.com.”

With the New Dada investment, Walmart can utilize New Dada’s network “to offer customers two-hour delivery on groceries ordered from Walmart stores through the JD Daojia Dada app,” a release from Walmart read.

From an additional strategic standpoint, Walmart’s investment in New Dada will help the company target shoppers with “faster delivery times in a popular but fiercely competitive online grocery market. New Dada has over 25 million registered customers and delivers in over 300 Chinese cities,” according to Reuters.

In the release, Walmart CEO Doug McMillon said that globally, the company is working to create seamless shopping experiences that bring together its stores, sites, and apps to make shopping faster and easier.

“Our alliance with JD and cooperation with New Dada will enable seamless shopping to millions of customers across China,” he said.

New Dada CEO Philip Kuai expressed similar sentiments, saying in the release that the deal brings together a global retail leader in Walmart and China’s largest grocery delivery network to create a new unique shopping experience.

“Combining New Dada’s unparalleled delivery network with Walmart stores means consumers will enjoy convenient access to a wide range of high-quality goods delivered to their homes and offices in record time,” he said. “We look forward to deepening our cooperation with Walmart as China’s O2O retail industry continues to evolve and grow.”

Cars

Ford teams up with Walmart to study consumer response to autonomous delivery

Last week it was Ford and VW, and this week Ford and Walmart are signaling a desire to work together on autonomous vehicles solutions. Ford and the giant retailer will study consumer reactions to self-driving delivery vehicles.
Deals

All the Best Target Black Friday deals for 2018

The mega-retailer opens its doors to the most competitive shoppers at 6 p.m. on Thursday, November 22, and signs indicate that the retailer means business this year. We've sifted through all of the deals, from consumer electronics to small…
Mobile

The 100 best Android apps turn your phone into a jack-of-all-trades

Choosing which apps to download is tricky, especially given how enormous and cluttered the Google Play Store has become. We rounded up 100 of the best Android apps and divided them neatly, with each suited for a different occasion.
Deals

Cyber Monday 2018: When it takes place and where to find the best deals

Cyber Monday is still a ways off, but it's never too early to start planning ahead. With so many different deals to choose from during one of the biggest shopping holidays of the year, going in with a little know-how makes all the…
Mobile

Apple reportedly chooses Intel to supply the modem for the first 5G iPhone

While some reports hinted that Apple was looking to move away from using Intel tech, a new report suggests the exact opposite. Reportedly, Apple has chosen Intel to supply 5G modems for Apple's first 5G-enabled iPhone, due in 2020.
Outdoors

GM is getting into ebikes, and it wants you to help name them

General Motors has just unveiled its first-ever electric bikes and has launched a $10,000 public contest to help name them. Tip: It's probably not worth suggesting "Bikey McBikeface."
Smart Home

No, Amazon Day isn’t yet another shopping event, but you may find it useful

Don't worry, Amazon Day isn't yet another online shopping extravaganza aimed at wrecking your monthly budget. Instead, it's a delivery option being tested for Prime Members that could actually be pretty useful.
Outdoors

Lime splashes $3 million on a campaign to encourage safer electric scooter rides

Keen to boost its image and keep local communities onside, scootersharing outfit Lime is spending $3 million on a campaign to teach its users how to ride more safely and responsibly.
Social Media

Facebook opens pop-up stores at Macy’s, but they’re not selling the Portal

Facebook has opened pop-up stores at multiple Macy's, though they're not selling Facebook's new Portal device. Instead, they're showcasing small businesses and brands that are already popular on Facebook and Instagram.
Smart Home

Amazon sends out physical toy catalog for kids of all ages this holiday season

Amazon confirmed it is shipping a printed holiday toy catalog, "A Holiday of Play," to millions of customers starting in November. The 68-page catalog has QR codes for many toys. A downloadable version links to each product on Amazon.
Mobile

Google confirms it will add Android support for foldable displays

It's already clear a few smartphones of 2019 will be foldable, and Google is embracing the trend. The company announced its adding Android support for foldable devices, which will allow apps to work seamlessly with the new form factor.
Mobile

Rugged Cat phones look to crack U.S. market through new deal with Sprint

The biggest name in rugged smartphones is launching a new device in the U.S. with Sprint. The Cat S48c is a tough, but affordable phone that can handle drops, water, dust, and extreme temperatures.
Cars

Bosch, Daimler team up to deploy autonomous Mercedes-Benz S-Classes in San Jose

In 1986, when Bosch and Daimler joined an autonomous car research project, the technology seemed overly futuristic. Now, the partners are aiming to make a production self-driving car by the early 2020s.
Home Theater

Comcast wants you to take control of your smart home through your TV

Comcast is looking to take on Google and Amazon as the center of your smart home. The company is reportedly testing a program that would allow broadband-only customers to turn their TVs into smart home hubs.