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An e-commerce investment in China
Walmart acquired a minority interest in Chinese e-commerce company Yihaodian, the company announced Friday morning. Yihaodian was launched in July 2008 and currently offers 75,000 products and next-day delivery on essential items from an existing logistics network in Shanghai, Beijing and Guangzhou.
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Wal-Mart buying minority stake in Chinese online retailer
Bentonville, Ark. -- Wal-Mart Stores is buying a minority stake in online company Yihaodian, which sells groceries, consumer electronics, clothing and other items. Terms of the deal and the size of the stake were not disclosed.
The deal will help expand the Wal-Mart’s reach into China, where it has 328 stores (as of Dec. 31, 2010).
