Morrison & Foerster represented Walmart in its further investment in Dada-JD Daojia of approximately US$320 million, subsequent to a US$50 million investment in Dada-JD Daojia in October 2016. With the investment, Walmart deepens its relationship with Dada-JD Daojia and strengthens Walmart’s omni channel offering for customers in China and will hold a 10 percent stake in the entity and a board seat.
Dada-JD Daojia is China’s leading on-demand logistics platform and online-to-offline (O2O) e-Commerce platform, serving millions of customers in key cities across China. Walmart has worked in close collaboration with Dada-JD Daojia over the past two years and currently offers a one-hour delivery service from almost 200 Walmart stores in 30 cities through the JD Daojia platform, and the company sees great potential to provide customers with even more convenient access to Walmart and Sam’s Club’s services.
The MoFo team was led by Palo Alto M&A partner Chuck Comey, Beijing partner Sherry Yin, Palo Alto associates Christopher Yap and Jim Ryan, and Shanghai associate Tian Zhou. Other key members included Palo Alto partner Mike Krigbaum and Hong Kong partners Chuan Sun and Tim Blakely.