Announced
Financials
Sources
Tags
on-demand delivery
Domestic
Public
Pending
e-commerce
Acquisition
Friendly
Majority
Single Bidder
China
E-commerce
Synopsis
JD, a technology driven e-commerce company, agreed to invest $800m in Dada Group, a local on-demand delivery and retail platform. "We are excited to further deepen strategic cooperations with JD.com. Leveraging JD's devoted strategic support, we will better fulfill demands for local on-demand retail and its delivery on JD, covering various scenarios and categories, and expand our omni-channel cooperation with JD. Together with JD, we will continue to provide consumers with superior experience, empower retail and brand partners and achieve a win-win cooperation for all," Philip Kuai, Dada Group Chairman and CEO.
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