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Online retailer invests $70m in FruitDay

Zoom in font  Zoom out font Published: 2015-05-27  Views: 135
Core Tip: Chinese e-commerce site and Alibaba rival JD.com is putting its money into fresh fruit and vegetables after it led a $70 million Series C round in FruitDay, a company that sells fresh produce across China.
FruitDay imports over 80 percent of its produce from overseas, and it claimed to be on course to hit 10 million customers before the end of the year — up fourfold from last year.

"With our shared commitment to providing consumers with the best online shopping experience, FruitDay and JD.com are natural partners as Chinese consumers increasingly shift to purchasing fresh produce online," JD Mall CEO Haoyu Shen said in a statement.

The company said in a statement that it will use the new capital to develop its infrastructure and logistics, hire new management and for general business development. It stands to benefit from more than just JD.com’s money through this alliance, however, since the duo have agreed to “a strategic cooperation” which will allow FruitDay to tap into JD.com’s own logistics and fulfilment network across China to help widen its service in the country.
 
 
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