Walmart has finally sealed the deal on its investment in Chinese e-commerce site YiHaoDian.com. We reported on its announcement back in May but the transaction seems to have taken longer than the expected two months to nail down.
The giant American retailer now takes an undisclosed minority stake in YiHaoDian. Walmart is very interested in the Chinese e-commerce scene, having also invested with five other firms the sum of US$500 million in 360Buy back in December of last year. Walmart is reportedly also considering an e-commerce site of its own, despite its two ongoing stakes in competing companies.