China’s Dada Group celebrates IPO on the Nasdaq Stock Exchange
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The Dada Group, China's leading local on-demand delivery and retail platform, began trading on the Nasdaq Stock Exchange on Friday under the ticker symbol "DADA" following its initial public offering. 


To commemorate this corporate milestone, the company held a special listing day event at Shanghai Tower, the tallest building in China and the second tallest in the world. As part of the event, founder, chairman and chief executive officer of the Dada Group, Phillip Kuai delivered a speech and held a countdown to the market's opening. Seven members of Dada's management team participated in a virtual bell ringing ceremony at the opening of the Nasdaq Stock Exchange that was broadcast live from Nasdaq's MarketSite Tower in Times Square, showcasing the company on a seven-story LED screen in the heart of New York City. 

"We are proud to celebrate this important milestone in Dada’s history at a time when our services are more essential than ever before," said Kuai. "Since day one, our goal has been to bring people everything on demand, and as we've expanded our business, our goal has remained the same. Now, just days from the company's sixth birthday, we have taken a significant step forward in our ability to boost the innovation revolution in China's retail industry and offer a more efficient and convenient shopping experience for our customers. Our association with the Nasdaq Stock Exchange raises our company's profile in the capital markets and provides new financial tools to continue to fuel our strong growth trajectory as we drive long-term value for our shareholders."

"We congratulate Dada Group on its successful listing on the Nasdaq," said Zhenhui Wang, senior executive vice president of, chief executive officer of JD Logistics and member of the company’s board of directors, who was also in attendance at the listing day event. "We are committed to supporting the company in the years to come and believe it is well-positioned for continued success. During the COVID-19 pandemic, Dada has been able to flex its services to meet unprecedented demand and its resilience and strong performance in recent months is a testament to the strength of the model the company has built."

Zhiyu Chen, SVP of Walmart China, added, "Since our initial investment in the Dada Group nearly four years ago, we have continued to recognize the potential of Dada's unique and innovative approach to solving the problem of delivery commodities in the last mile. We are excited to participate in today's listing and see compelling opportunities for Dada to further expand and execute on its accelerated growth strategy. We look forward to continuing to build on our strong partnership in the years to come."

The Dada Group is a leading platform of local on-demand retail and delivery in China. It operates JDDJ, one of China's largest local on-demand retail platforms by GMV in 2019, and Dada Now, a leading local on-demand delivery platform in China by number of orders in 2019, according to the iResearch. There was an increase in demand for Dada's services during the COVID-19 outbreak as more and more people shopped for daily necessities online, such as groceries, fresh produce, healthcare and household products during this period.