Technology

Walmart and JD.com invest $500 million in a Chinese online delivery company

A Chinese online grocery delivery company Dada-JD Daojia said on Thursday it has raised $500 million from U.S. retailer Walmart and JD.com in its latest round of financing.

Earlier this year, the U.S. retailer opened its first small high-tech supermarket in China where customers use smartphones to pay for items that are available on Walmart’s virtual store on JD Daojia’s platform.

JD.com, which competes aggressively with China’s largest e-commerce player Alibaba, also has the backing of other prominent global and local names in technology such as Google and Tencent.

In June, Google said that it will invest about $550 million in cash into JD.com as part of a strategic investment.

For its part, JD.com said it planned to make a selection of items available for sale in places like the U.S. and Europe through Google Shopping — a service that lets users search for products on e-commerce websites and compare prices between different sellers. The partnership would open a channel for JD.com to sell to consumers outside China, especially at a time when trade tensions between Beijing and Washington are high.

JD.com is also backed by Chinese tech company Tencent, which operates the country’s largest social messaging platform called WeChat. As a result, JD.com is able to sell directly to consumers through the WeChat app.