JD.com to Acquire Majority Stake in Delivery Platform Dada Group

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Chinese e-commerce platform JD.com plans to make a major investment in on-demand delivery platform Dada Group.

JD.com announced on Monday that it plans to invest USD$800 million in Dada, which will give it an ownership stake of around 51%.

US-listed shares in Dada surged by nearly 19% following the announcement by JD.com.

Dada was first founded in 2014, and its JD-Daojia (达达-京东到家) and Dada Now (达达快送) brands have since emerged as two of the leading on-demand retail platforms in the Chinese market.

The company listed on the Nasdaq Stock Market in June of last year.

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