Listed on Nasdaq (DADA); faced a 2024 accounting-fraud probe; JD majority-owned
The rise & fall
8 moments Β· 2014β2024
The key moments.
2014
π±
2014
Founded in Shanghai
Philip Kuai's Dada builds a crowdsourced courier network for last-mile delivery.
TechCrunch
2018
π¦
2018
Walmart and JD top it up
A $500M round from Walmart and JD values the delivery platform above $1B.
Reuters
Jun 2020
Jun 2020
Nasdaq IPO
Lists as 'DADA' just as the pandemic supercharges on-demand delivery.
Nasdaq
2021
π
2021
The peak: ~$9.6B in the delivery boom$9.6B
The pandemic on-demand boom carries the JD- and Walmart-backed platform to its record market cap early in the year.
YCharts
2021β22
2021β22
Regulatory selloff and red ink
China's tech crackdown hammers US-listed ADRs while losses persist.
Reuters
2022
π
2022
Slips out of the club
The market cap sinks well below the $1B line.
stockanalysis.com
2024
2024
Probe finds inflated revenue
An internal investigation finds inflated online-advertising and marketing revenue; the stock craters toward ~$0.5B and JD tightens its control.
Reuters
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 β well below the $1B line β 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)
