Walmart selling its china ecommerce website to JD.com

Wal-Mart Stores Inc. is switching strategies in China, striking a deal to forge a partnership with one of the country’s largest e-commerce players rather than continue trying to crack the fast-growing but competitive market on its own.


Wal-Mart on Monday said it will sell its Yihaodian website to JD.com Inc.—the second-largest online retailer in China Wal-Mart will receive a 5% stake in JD.com, valued at roughly $1.5 billion at recent prices, and access to JD.com’s delivery network and shoppers.

JD.com American depositary shares rose 4.6% to $21.06 on the Nasdaq Stock Market amid the news, which was reported earlier by The Wall Street Journal. Wal-Mart shares rose slightly to $71.10 on the New York Stock Exchange.

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