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Dada Nexus

On-demand deliveryChina
📉 Public < $1B
Peak $9.6 BillionToday
~-95%
from peak
  1. 🦄
    Became a unicorn
    2018
  2. 📈
    Peak valuation
    $9.6 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation
    ~$480M
Current status
Listed on Nasdaq (DADA) at roughly $0.5B market cap after a 2024 accounting-fraud probe; JD majority-owned

How it happened

Dada Nexus, formed from the merger of crowdsourced-delivery firm Dada and JD's JD Daojia on-demand retail arm, was one of China's largest local on-demand delivery and retail platforms, backed by JD.com and Walmart. It listed on Nasdaq in June 2020 and rode the pandemic-delivery boom to a peak market capitalization near $9.6B in early 2021. A regulatory selloff, persistent losses and a 2024 internal investigation that found inflated online-advertising and marketing revenue gutted the stock, leaving it at roughly $0.5B — well below the $1B line — with JD increasing its control.

Source: stockanalysis / YCharts / Nasdaq (JD- and Walmart-backed on-demand retail and delivery; June 2020 Nasdaq IPO, peak market cap ~$9.6B late 2020/early 2021; internal probe found inflated revenue in 2024; market cap ~$0.5B in 2024-25)

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