Walmart: buys LatAm marketplace in online push

(CercleFinance.com) - Walmart said on Thursday that it has entered into a definitive agreement to acquire Cornershop, an online marketplace for on-demand delivery from supermarkets, pharmacies and food retailers in Mexico and Chile, for a total of 225 million dollars.


This investment will help Walmart to grow in Latin America, following its recent investment in China's Dada-JD Daojia and its strategic alliance with Japan's Rakuten, the US retailer said.

Walmart's move comes after Cornershop has seen the number of unique users double over the past 12 months.

The transaction is expected to be closed by the end of the year.

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