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Last updated on Friday, October 21, 2016, 11:54 am

Walmart invests $50 million in Chinese on-demand logistics venture New Dada

Wal-Mart Stores continues to invest in growing its business in China, doling out another $50 million into New Dada, an on-demand logistics and grocery delivery platform. The retail giant said this investment is an extension of Walmart’s broader agreement with that was announced Thursday (Oct. 20). Part of that strategy involved two-hour delivery for groceries ordered and fulfilled from Walmart stores in 20 cities. Shoppers will use New Data’s logistics network for the delivery. The two-hour delivery service is available to customers within a three-kilometer radius of more than 20 Walmart stores are currently part of the program. The number of Walmart stores offering two-hour delivery is expected to double by the end of the year. “All around the world, we’re... [ MORE ]

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