Dada Group Acquisition, Valuation, Funding & Investors
Dada Group was acquired by JD Sunflower in April 2025.
About Dada Group
Dada Group is a Nasdaq-listed local on-demand retail and delivery platform in China under ticker DADA since June 2020. It runs JDDJ for retailers and brands, alongside Dada Now for merchants across categories, integrating fulfillment and logistics nationwide.
Founded
2014
HQ
ShanghaiWebsite
Status
Acquired
Customer focus
B2C
Revenue model
Commission
Valuation
$1B (Jan 2016)
Dada Group Acquisition
Dada Group was acquired by JD Sunflower for an undisclosed price on 4 April 2025.
Before the acquisition Dada Group had raised $1.1B across 5 funding rounds.
Dada Nexus Limited (Dada Group), China's leading local on-demand retail and delivery platform founded in 2014 through the merger of JD.com’s intra-city delivery unit and independent delivery platform Dada, completed its privatization via merger with JD Sunflower Merger Sub Limited, a wholly owned subsidiary of JD Sunflower Investment Limited, on June 16, 2025. The merger agreement, dated April 1, 2025, was approved by shareholders at an extraordinary general meeting on June 10, 2025, with 92.1% of votes cast in favor, representing 73.4% of outstanding shares. Under the terms, each American Depositary Share (ADS) received US$2.0 in cash, a 42% premium to the January 24, 2025 closing price, while each ordinary share received US$0.5; post-merger, Dada became a wholly owned subsidiary of JD Sunflower Investment Limited, wholly owned by JD.com, Inc., and delisted from NASDAQ, terminating its ADS program. JD Sunflower Investment Limited, the parent entity fully owned by JD.com, Inc., funded the all-cash transaction through a commitment from JD.com International Limited. The deal enhances JD.com’s last-mile delivery capabilities, operational efficiencies, and competitive position in China’s on-demand delivery sector. Completion followed satisfaction of customary conditions, including shareholder approval requiring two-thirds affirmative vote, with payments to ADS holders processed via JPMorgan Chase Bank, N.A. as depositary.
| Acquirer | Date | Type |
|---|---|---|
| 4 Apr 2025 | Strategic M&A |
Dada Group Valuation
Dada Group is currently valued at $1B, based on its Series D in January 2016.
The $300M round was led by DST Global, with participation from Sequoia Capital, Greenwoods Asset Management and Hedosophia.
Dada Group valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2016 | Series D | $1B |
Dada Group Funding History
Dada Group has raised a total of $1.1B across 5 funding rounds.
Dada Group's first fundraising round was a $100M Series C in June 2015. The most recent completed round was a $500M strategic investment round in August 2018.
Dada Group funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2018 | Strategic investment | JD.com (lead); Walmart (lead) | $500M | - | Dada Group, operating as Dada-JD Daojia, is a Chinese on-demand logistics and online-to-offline (O2O) e-commerce platform formed in 2016 from the merger of JD Daojia—JD.com's O2O business with around 20 million monthly active users—and Dada Nexus, a crowdsourced delivery platform covering over 400 major cities. The company partners with retailers for one-hour grocery and product deliveries via app, coordinating scooter-based delivery personnel, and serves millions of customers in key Chinese cities. In August 2018, Dada-JD Daojia raised $500 million in equity financing co-led by JD.com and Walmart, with Walmart contributing approximately $320 million following its prior $50 million investment in 2016. This brought Walmart's stake to 10% with a board seat, deepening ties for omnichannel retail integration in China where Walmart operates 443 stores and offers one-hour delivery from nearly 200 stores in 30 cities via the platform. Funds were earmarked for advancing supply chain technology, enhancing services for online merchants and retail partners, improving delivery efficiency, and expanding O2O capabilities to counter competitors like Alibaba. The investment aligns with JD.com's 'Borderless Retail' strategy blending online-offline shopping and Walmart's push to grow its e-commerce presence amid alliances with JD and Tencent. Dada-JD Daojia positioned itself as a key enabler for retailers like Walmart and Sam's Club in Shanghai and Shenzhen, focusing on instant shopping needs through tech-driven efficiencies. |
| Oct 2016 | Strategic investment | Walmart (lead) | $50M | - | Dada Group, operating as Dada-JD Daojia at the time, is a Chinese on-demand delivery and online grocery platform formed through a merger of JD Daojia (JD.com's online grocery ordering service) and Dada (crowdsourced delivery network). It partners with retailers for one-hour grocery delivery via app in hundreds of Chinese cities, coordinating delivery personnel on scooters and focusing on O2O (online-to-offline) integration to enhance supply chain efficiency and user experience. Walmart made its initial $50 million investment in Dada-JD Daojia in October 2016, marking the start of their strategic partnership where Dada handles delivery for Walmart goods in China. This 2016 round preceded larger follow-on investments, including a $500 million joint investment by Walmart ($320 million) and JD.com in August 2018, which gave Walmart a 10% stake and a board seat while extending commercial agreements to bolster Walmart's omni-channel presence in China. The 2018 funding was earmarked for supply chain technology improvements and better service to online merchants. Walmart integrated over 200 stores across 30 Chinese cities onto the Dada-JD Daojia platform, with 15% of Dada Nexus's later net revenue derived from the Walmart partnership. Dada Nexus (NASDAQ: DADA), the evolved entity, went public in June 2020, raising $336 million at $16 per ADS, with Walmart and JD Group purchasing shares at that price for $71.6 million total. By 2020, Walmart's stake reached 10.7%, valued over $2 billion post-IPO at peak prices. |
| Apr 2016 | Series E | JD Sunflower | $200M | - | Dada Nexus completed a transaction combining its delivery platform with JD.com’s JD Daojia business on April 26, 2016. JD Sunflower Investment Limited, a British Virgin Islands company within the JD group, subscribed USD200 million for newly issued Series E preferred shares in Dada. The same agreement provided for ordinary shares to be issued in connection with the transfer of JD Daojia and related commercial arrangements. Following completion, JD held approximately 47% of Dada on a fully diluted basis. JD Daojia became part of Dada’s consolidated operations, combining an online marketplace for local retailers with a crowdsourced delivery network. The companies intended to improve delivery efficiency and expand services for supermarkets, convenience stores and other local merchants. The transaction included noncompetition and business cooperation agreements and a warrant for a potential later investment. The USD200 million represents cash subscribed into Dada; it does not measure the value of the contributed business, commercial rights or unexercised warrant. |
| Jan 2016 | Series D | DST Global (lead); Sequoia Capital; Greenwoods Asset Management; Hedosophia | $300M | $1B | - |
| Jun 2015 | Series C | DST Global (lead); Sequoia Capital; Kunlun; Greenwoods Investment | $100M | - | Dada Group raised $100 million in its Series C funding round on June 18, 2015, led by DST Global as the new investor, with participation from Sequoia Capital and Greenwoods Investment. Dada Group (now DADA Nexus Limited) operates as an on-demand delivery and local service aggregation platform in China, connecting users with local retailers and service providers. The company has evolved into a community group buying and B2B e-commerce model post-IPO. Investor DST Global was actively deploying capital from its fifth fund around this period, having raised $1.7 billion. |
Who has invested in Dada Group?
9 investors have backed Dada Group across its funding rounds, including Sequoia Capital, DST Global, Walmart, Hedosophia, JD.com and Greenwoods Asset Management.
Lead investors include JD.com, Walmart and DST Global.
Dada Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 San Francisco, CA | 2 | Participant | Jun 2015 | |
| Bentonville, AR | 2 | Lead | Oct 2016 | |
 George Town | 2 | Lead | Jun 2015 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} JD Sunflower | -- | 1 | Participant | Apr 2016 |
| Beijing | 1 | Lead | Aug 2018 | |
 Hong Kong | 1 | Participant | Jan 2016 | |
 London | 1 | Participant | Jan 2016 | |
This data is available for Pro users. Sign up to see all 9 Dada Group investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialDada Group Competitors
Dada Group competitors include listed companies like Goto Gojek Tokopedia and Grupa Pracuj, and private ones like Movile, Daki, Dunzo and Dingdang Kuaiyao.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 São Paulo | Private | - | - | $1B | - | |
| São Paulo | Private | $4M | - | $800M | 200.0x | |
 Bangalore | Private | $24M | - | $775M | 32.3x | |
| Beijing | Private | - | - | $522M | - | |
 Indonesia | Publicly listed | $1B | ($16M) | $3B | 1.7x | |
 Poland | Publicly listed | $214M | $95M | $1B | 4.4x |
Dada Group Public Comps
Dada Group is no longer listed, but its public comps include SMZDM.com, QuinStreet, Grupa Pracuj, Ibotta, LegalZoom, Nextdoor, Tripadvisor, Upwork, Web Travel Group and Baltic Classifieds Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $192M | $19M | 4.9x | 4.7x | 47.8x | 42.1x | |||
| $1.3B | $61M | 0.7x | 0.7x | 15.8x | 7.9x | |||
| $214M | $95M | 4.6x | 4.4x | 10.3x | 9.7x | |||
| $342M | $7M | 2.5x | 2.4x | 114.9x | 15.3x | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $258M | ($69M) | 2.4x | 2.2x | (8.8x) | 27.8x | |||
| $1.9B | $160M | 0.6x | 0.6x | 6.8x | 4.2x | |||
| $788M | $180M | 1.0x | 1.1x | 4.6x | 3.6x | |||
This data is available for Pro users. Sign up to see all Dada Group competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Dada Group
| When was Dada Group founded? | Dada Group was founded in 2014. |
| Where is Dada Group headquartered? | Dada Group is headquartered in Shanghai, China. |
| Is Dada Group publicly listed? | No, Dada Group was acquired by JD Sunflower in April 2025. |
| Who acquired Dada Group? | Dada Group was acquired by JD Sunflower in April 2025. |
| What is Dada Group's valuation? | Dada Group was last valued at $1B in its Series D in January 2016. |
| How much funding has Dada Group raised? | Dada Group has raised $1.1B across 5 funding rounds. |
| What was Dada Group's last funding round? | Dada Group's last funding round was a $500M strategic investment round in August 2018, led by JD.com and Walmart. |
| Who are Dada Group's investors? | Dada Group's investors include Sequoia Capital, Walmart, DST Global, JD Sunflower, JD.com, Greenwoods Asset Management, Hedosophia, Kunlun and Greenwoods Investment. |
| Which companies are comparable to Dada Group? | Companies comparable to Dada Group include Movile, Daki, Dunzo, Dingdang Kuaiyao, Goto Gojek Tokopedia and Grupa Pracuj. |
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