Can Walmart make money at Dada Nexus? — Market Mad House
The grocery delivery wars are heating up. Walmart (NYSE: WMT) bought a 10.7% stake in Chinese grocery delivery platform Dada Nexus (NASDAQ: DADA).
Dada Nexus combines JD Daojia’s platform for supermarket orders and Dada, a platform that crowdsources food deliveries, Investor’s Business Daily report. Customers use the combined platform to order food and other items from supermarkets and convenience stores.
Dada Nexus claims to have 11.9 million customers in China. Investor’s Business Daily claims Dada Nexus’s…