Walmart Will Sell Its Chinese Ecommerce Business

Walmart Will Sell Its Chinese Ecommerce Business
A woman walks out from a Sam's Club in Shenzhen, in southern China's Guangdong Province, on Nov. 15, 2015. AP Photo/Ng Han Guan
Emel Akan
Emel Akan
Reporter
|Updated:

Walmart said it would sell its Chinese online e-commerce business to JD.com, as part of a strategic alliance between both companies. In return, Wal-Mart Stores Inc. (NYSE:WMT) will own 5 percent of JD.com Inc. (Nasdaq:JD), China’s largest e-commerce company by revenue.

JD.com will acquire Walmart’s Yihaodian marketplace platform, including the brand, website, and app. Based on JD.com’s recent share price, the stock deal is valued at roughly $1.5 billion.

JD.com has a very complementary business and is an ideal partner that will help us offer compelling new experiences that can reach significantly more customers.
— Doug McMillon, president and CEO, Walmart
Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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