|A Walmart store is seen in Encinitas, California April 13, 2016. REUTERS/Mike Blake/File Photo|
Wal-Mart shifted its China strategy earlier this year when it sold its own online platform Yihaodian in exchange for a stake in local e-commerce giant JD.com Inc. New Dada is a joint venture part-owned by JD.com.
The investment in New Dada will help Wal-Mart target Chinese 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.
(Reporting by Adam Jourdan; Editing by Stephen Coates)
This article was first seen on Reuters