Rumor: O2O Crowdsourced Delivery App 'Dada' Lands USD 300 Mln Series D

Iyiou, 12/31/15

Shanghai-based Qusheng Network, operator of mobile O2O crowdsourced delivery app Dada, has reportedly completed approximately USD 300 mln Series D funding from Russian investment group Digital Sky Technologies (DST) and Sequoia Capital, according to a source familiar with the matter. This funding round values Dada at USD 1 bln.

According to Dada's official website and spokesperson, the company has 700 employees and 900,000 crowdsourced delivery personnel who have registered their real names on the platform. Dada operates in more than 40 cities providing 1.5 mln daily deliveries for nearly 300,000 different merchants. Qusheng Network's food ordering and delivery service Pai Lequ, which launched in November 2015, currently processes 1 mln daily orders.

Editor's Note: For more information on this topic, please see "O2O Crowdsourced Delivery App Dada Launches Food Delivery Platform," MD 12/07/15 and "Rumor: Mobile Logistic App Dada Lands USD 100 Mln Series C," MD 6/18/15issue.

Keywords: VC logistics funding wireless Series D Sequoia Capital Dada Qusheng Digital Sky Technology mobile application food O2O

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