Walmart CEO Doug McMillon announced a strategic investment in New Dada with Philip Kuai, CEO of New Dada.

Walmart will invest $50 million in New Dada, China’s largest local on-demand logistics and grocery online-to-offline e-commerce platform, to offer customers in China two-hour deliveries on groceries through an app.

The investment is an extension of Walmart’s broader agreement with JD.com, China’s largest e-commerce company. New Dada an independent joint venture of JD.com and Dada.

The two-hour delivery service is available to customers within a 3-kilometer radius of more than 20 Walmart stores that are currently part of the program. The number of Walmart stores offering two-hour delivery is expected to double by the end of the year, Walmart said in a statement.

“All around the world, we’re creating seamless shopping experiences that bring together our stores, sites and apps to make shopping faster and easier. Our alliance with JD and cooperation with New Dada will enable seamless shopping to millions of customers across China,” said Walmart CEO Doug McMillon.

(Source: hfndigital.com  Author: Allison Zisko)