Wal-Mart Stores Acquires Minority Stake in Chinese E-Commerce Company
Wal-Mart Stores is acquiring an undisclosed stake in the holding company of Yihaodian, a three-year-old e-commerce company in China. Wal-Mart did not say how much it was investing, but that it was a minority stake. Yihaodian specializes in online grocery sales, as well as in categories such as baby, consumer electronics and apparel. Other hot retailers in China are Dangdang, which recently went public, 360buy and Alibaba.com, which is in a heated dispute with its partial owner Yahoo.