VC-backed Dada Nexus merges with JD’s O2O business
Dada Nexus, a China-based crowdsourcing delivery platform backed by several VC investors, has agreed to merge with JD Daojia, the online-to-offline (O2O) business unit of e-commerce giant JD.com.
As part of the agreement, JD.com will inject its existing O2O resources and $200 million in cash into the combined entity, in exchange for a 47.4% stake, according to a release. The new company will continue...
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