Walmart co-leads $500 mn funding in China's online grocer
US-based retailer Walmart along with e-commerce major JD.com has co-led a $500 million funding round in Chinese online grocery delivery company Dada-JD Daojia. It was formed from the merger of JD Daojia, JD.com's online-to-offline business, and crowd-sourcing platform Dada Nexus. JD.com said the deal is part of its Borderless Retail strategy, which includes staff-less stores and retail outlets.