China’s e-commerce player JD has acquired all of Walmart’s stake in Dada,Watch Games of Seduction Online according to Dada’s securities filing on Tuesday, bringing JD’s shares in the logistics company to 63.2%. As part of the move, Walmart China CEO Christina Zhu resigned from Dada’s board, a role she began in May 2020. Beijing-based JD became the majority shareholder in Dada when it injected $800 million into the on-demand delivery platform in 2021, three years after Dada received $500 million in funding from Walmart and JD. A month before the sale, US retail giant Walmart exited its entire stake in JD, ending their eight-year partnership at a time when the once-dominant Chinese e-commerce giant struggled to maintain its market share. [SEC filing]
