Chinese online grocer Dada-JD Daojia is reportedly in talks with bankers to raise around $500 million in a US IPO in May 2020, according to an article published by The Information. The talks are in the early stages, and the venture has not made a final decision on the amount it intends to raise or whether to list on the NASDAQ or the New York Stock Exchange, according to the article. Dada-JD Daojia was created in 2016 through the merger of JD.com’s supermarket business and crowdsourcing delivery service Dada Nexus. Walmart has a 10% stake in the venture, and in 2016, Walmart transferred its ownership of the Yihaodian marketplace and made subsequent investments in Dada-JD Daojia in 2016 and 2018. The venture offers one-hour delivery service for more than 74 million users, covering categories such as fresh fruits and vegetables, groceries, flowers, baked goods and pharmaceutical products. The venture works with more than 5,000 retailers, including Walmart, Carrefour, Vanguard, Yonghui supermarket and Watsons. Dada operates a local, on-demand logistics platform covering more than 450 major cities across China. Through a crowdsourcing service model, it can process tens of millions of orders daily at low cost.